A PYMNTS Company

Germany: Almunia compromises on energy surcharge discounts

By  |  February 17, 2014

European Commissioner Joaquin Almunia has reportedly leaned towards a compromise with Germany regarding tax discounts offered to energy companies that are said to potentially affect competition.

Reports say Almunia announced Monday plans to make an agreement with Germany by April on the case, noting that the steel and aluminum industries could possibly keep those tax breaks.

While the discounts could aid companies in Germany that highly depend on energy, the Commission also found that they could harm competition.

Major firms including BASF and ThyssenKrupp have benefitted from exemption from the energy surcharges that everyday consumers must pay. The companies face having to repay those tax breaks.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.