Outokumpu Granted Relief from German Renewable Energy Charge for 2013
12/20/2013 - After a constructive dialogue and a clarification of Outokumpu’s application and appeal, Outokumpu has now received a reduction to the applicable German renewable energy charge for the year 2013.
Outokumpu is subject to the renewable energy charge applied to all companies operating in Germany. As an energy intensive company facing global competition, Outokumpu is entitled to a reduction of these charges.
For the year 2013 this reduction was initially denied by the German authorities. After a constructive dialogue and a clarification of Outokumpu’s application and appeal, Outokumpu has now received a reduction to the applicable German renewable energy charge for the year 2013. At the same time, similar reduction was granted for 2014.
The renewable energy charge reduction results to a € 25 million relief on energy costs for the entities in Germany for 2013. Outokumpu will book this refund in its fourth quarter accounts and it has a positive impact on the Group’s EBIT in the fourth quarter.
For the year 2013 this reduction was initially denied by the German authorities. After a constructive dialogue and a clarification of Outokumpu’s application and appeal, Outokumpu has now received a reduction to the applicable German renewable energy charge for the year 2013. At the same time, similar reduction was granted for 2014.
The renewable energy charge reduction results to a € 25 million relief on energy costs for the entities in Germany for 2013. Outokumpu will book this refund in its fourth quarter accounts and it has a positive impact on the Group’s EBIT in the fourth quarter.
