Press Release: European Commission approves state aid to Hungarian coal and gas companies

The European Commission on 25 January 2006 decided not to raise any objections to the €67.6 millions aid which Hungary was proposing to grant to mining company Vértesi Erömü Rt. for the years 2005 and 2006. The Commission held that the aid was compatible with the proper functioning of the common market. At the same time, it decided that the fixed feed-in tariffs for coal which Hungary imposed upon the state-owned electricity undertaking MVM in the years 2004 and 2005 did constitute State aid, which was compatible with the common market.

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