Belgium, (Brussels Morning Newspaper) The European Commission has approved the aid scheme worth 3 billion euro to support companies in the Polish natural gas market.
In a statement released on Thursday, the EC pointed out that it approved the scheme under the Temporary Crisis Framework adopted in March this year and amended in July and October.
Under the scheme, Poland will support small and medium-sized enterprises (SMEs) and large companies in the gas market, with financial institutions excluded from the aid scheme.
The Commission pointed out that aid will be provided in the form of subsidised loans through the Polish National Development Bank (BGK), noting that aid per beneficiary will be tied to annual turnover or energy costs.
Aid to weather the crisis
Margrethe Vestager, European Commissioner for Competition, pointed out “with this 3 billion euro scheme, Poland will ensure that sufficient liquidity remains available to companies active in the Polish gas market, which need support in this difficult context.”
The EC noted that Poland’s scheme is in line with EU rules as loan maturity does not exceed 6 years, subsidised interest rates are above the minimum level required under the Temporary Crisis Framework and aid will be provided by the end of 2023.
The body stressed that the aid scheme is appropriate, proportionate and necessary to address the economic disturbance in Poland, which is why it approved the scheme.
The Commission reminded that, under the framework, EU member states can provide limited amounts of aid to companies affected by the crisis. Aid can be provided in any form, but measures must be drawn up to protect competition and minimise market distortions.
The EC pointed out that aid “will partially compensate companies, in particular intensive energy users, for additional costs due to exceptional gas and electricity price increases,” stressing that aid amounts “may be calculated based on either past or present consumption.”
Besides targeting companies, bloc members may provide aid to sectors that are particularly affected by rising energy prices as well as set up investment schemes for renewable energy projects.
The Commission concluded that tender procedures may be simplified to make sure that renewable energy projects are implemented quickly.
