EU Probes Arcelor Mittal, Vimetco Romanian Units on Energy

European Union competition regulators are investigating the Romanian units of Arcelor Mittal and Vimetco NV for allegedly buying electricity at below market prices from the country’s hydropower operator, Commissioner Joaquin Almunia said, quoted by Bloomberg.The European Commission is looking “into potential aid” given to steel producer Arcelor Mittal Galati SA and aluminum smelter Alro SA through lower electricity tariffs from state- owned company Hidroelectrica SA, Almunia said in a ...

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