European Union antitrust officials conditionally approved French state subsidies that form part of regulated electricity tariffs for large energy consumers.
The approval ends the EU’s probe into below-market rate “Tartam” tariffs for large, energy-consuming companies such as steelmakers that were used between 2006 and 2011, and so-called green and yellow regulated tariffs for companies.
France must review the standard tariffs every year and phase them out by the end of 2015 as a condition of the EU authorization, the European Commission said in a statement.
There should be a “gradual shift to cost-based pricing every year after summer 2012” until the tariffs are eliminated, the commission said.
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