EU Clears Italian Support Scheme For Advanced Biomethane And Biofuels



Reuters

BRUSSELS, March 1 (Reuters) - The European Commission on Thursday cleared a 4.7 billion euros ($5.73 billion) support scheme in Italy for advanced biomethane and biofuels, saying it was in line with state-aid rules.

"The scheme will encourage the production and consumption of advanced biofuels in Italy, while limiting distortions of competition," Competition Commissioner Margrethe Vestager said in a statement.

The scheme will support the distribution and production of advanced biofuels and biomethane used in the transport sector, by paying premiums to compensate for the higher costs compared to traditional fuels.

($1 = 0.8204 euros)

(Reporting by Robert-Jan Bartunek)



WHAT DO YOU THINK?


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.