News Summary: EU probes Germany's energy discounts

Last Updated: Wed, Mar 06, 2013 17:30 hrs

? The European Commission formally launched an investigation to find out whether energy price cuts granted to industrial clients in Germany is a hidden form of state aid.

SHORT CIRCUIT: The EC said that large electricity consumers were exempt from paying around €300 million ($390 million) in network charges last year alone — an arrangement that may have put competitors in other member states at a disadvantage.

NOT SHOCKING: An Economy Ministry spokesman argued that the reduction is not state aid, because it is financed not by public money but by a fee for all energy users.

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