European Court Rejects Hungarian Power Companies’ Appeals

  • 30 Apr 2014 3:58 AM
European Court Rejects Hungarian Power Companies’ Appeals
The European Court of Justice on Wednesday rejected appeals by Hungarian power generators Tisza Erőmű and Dunamenti Erőmű against a European Commission directive scrapping long-term purchase agreements.

The Commission had earlier directed Hungary to cancel long-term electricity purchase agreements from power generators and instructed the state to recover revenue which the companies could not have obtained without the agreements. Brussels deemed the long-term agreements illegal state aid.

Source www.hungarymatters.hu

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