Austrian Minister Wolfgang Hattmannsdorfer criticizes EU delays and announces the opening of the application portal for subsidies.

The Austrian Minister of Economy, Wolfgang Hattmannsdorfer, criticized the bureaucracy of the European Union for delaying the approval of subsidies for industrial electricity, stating that it hinders investments and activity in the European industry. As a result, the ministry will open an application portal on Monday, allocating 150 million euros for this year, retroactively until 2025.

The subsidies are intended for companies of all sizes that produce paper, crude iron, oil, and ferrous alloys, consuming more than one gigawatt-hour of electricity annually. Companies must have an energy audit and an environmental management plan, allocating at least 80% of the subsidy for improving energy efficiency. The ministry estimates that approximately 60 companies, with a total of 30,000 employees, will apply for this aid. In this context, the leaders of the European Union have called on the European Commission to present swift measures to address the rising prices of oil and gas, which have exploded since the beginning of the war in the Middle East.