The European Commission has approved Romania’s plans to partially compensate large energy-consuming companies for higher electricity prices resulting from the costs of indirect emissions, according to the European Union’s Emissions Trading Scheme (EU ETS), according to a statement released on Monday by the EU Executive.

The scheme will cover the period 2019-2020, with a provisional budget of approximately 291 million euro.

This measure will benefit companies active in Romania in sectors that face significant electricity costs and are particularly exposed to international competition, according to Agerpres.

Compensation will be granted through partial reimbursement of the ETS indirect costs to eligible companies.