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Commission authorizes aid to German coal industry

On a proposal from Energy Commissioner, Christos Papoutsis, the Commission has authorized additional aid to the German coal industry for 1994 under Decision No 3632/93/ECSC of 28 December 1993 establishing Community rules for State aid to the coal industry. The aid in questio...

On a proposal from Energy Commissioner, Christos Papoutsis, the Commission has authorized additional aid to the German coal industry for 1994 under Decision No 3632/93/ECSC of 28 December 1993 establishing Community rules for State aid to the coal industry. The aid in question, totalling DM 379 million, concerns the delivery of coal and coke to the steel industry. The aid has been granted because of a bigger difference than originally expected between the price of coking coal on the world market and German coal production costs. This was a result of world market prices and unfavourable exchange rates. The Commission approved this aid as part of the restructuring plan it endorsed on 13 December 1994. Given the limited progress that this industry can make towards greater economic viability in the light of coal prices on the international markets, the Commission has also taken account of the urgent need to mitigate the social and regional consequences of the restructuring of the German coal industry.

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