Hungary: European Commission approved 1 billion euros support scheme for companies

, SEE Energy News

The European Commission announced that it has approved 1 billion euros scheme by the Hungarian Government to support companies facing increasing energy costs.

The support scheme was approved under the State Aid Temporary Crisis and Transition Framework, adopted by the Commission in March, to support measures in sectors that are key to accelerating the green transition and reducing fuel dependencies.

The Hungarian support scheme consists of aid for additional costs due to exceptional energy price increases and will take the form of loans and guarantees. The statement from the Commission said that the measure will be open to companies of all sizes and sectors, with the exception of the financial sector as well as sectors that are considered to be potentially harmful to the environment.

Its purpose is to cover part of the increased costs of natural gas and electricity as well as of heating and cooling directly produced from the latter.

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