TURIN UTILITY STRANDED COSTS CASE/EIB INVESTMENT
April 1st, 2006
BY KEITH NUTHALL
TURIN'S municipal utility is facing legal action from the European Commission over a planned Euro 16 million in state aid from the Italian government, even as the European Investment Bank (EIB) is planning to lend it Euro 100 million. The Commission is upset with the planned national subsidy to AEM Torino, which is designed to compensate it for non-commercial (stranded) costs that have become a liability since Italy liberalised its electricity system. Brussels is concerned that this aid will give AEM, which s 70%-owned by the city of Turin, an ...
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