HUNGARY EUROPEAN COMMISSION COAL STATE AID
January 1st, 2006
BY KEITH NUTHALL
FINANCIAL assistance secured by the Hungarian government for its national coal industry has been approved by the European Commission, notably fixed feed-in tariffs for coal imposed on state-owned power company MVM in 2004-5. Although Brussels concluded this did represent a transfer of state money to Hungarian coal producers, it has ruled it "compatible with the common (European Union) market. The Commission also approved subsidies of Euro 67.6 million in 2005-6 to Hungarian coal mining company Vértesi Erömü Rt.
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FINANCIAL assistance secured by the Hungarian government for its national coal industry has been approved by the European Commission, notably fixed feed-in tariffs for coal imposed on state-owned power company MVM in 2004-5. Although Brussels concluded this did represent a transfer of state money to Hungarian coal producers, it has ruled it "compatible with the common (European Union) market. The Commission also approved subsidies of Euro 67.6 million in 2005-6 to Hungarian coal mining company Vértesi Erömü Rt.
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