EU Clears Italian Support Scheme For Advanced Biomethane And Biofuels
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)
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