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State Aid

State aid: No aid in power contract to Thorsil in Helguvík

20.6.2016

PR(16)28

EN  | IS

The EFTA Surveillance Authority (ESA) has concluded that Thorsil's power contract with Landsvirkjun, the Icelandic national power company, does not confer an economic advantage upon Thorsil and therefore does not involve state aid.

For reasons of legal certainty, the Icelandic authorities notified to ESA a contract on the sale of electricity for a silicon metal plant to be constructed and operated by Thorsil in Helguvík. ESA has reviewed the contract, taking into consideration the economic calculations relied on by Landsvirkjun at the time of signature.

ESA underlines that the application of the market economy operator principle requires an individual assessment of the terms of each contract. Accordingly, Landsvirkjun has provided ESA with extensive information. ESA has found that the power contract is profitable in all possible business scenarios, and that the agreement was concluded on market terms.

A non-confidential version of the decision will be published in the register of state aid decisions on ESA's website, normally within a month.


For further information, please contact:

Ásdís Ólafsdóttir
Communication Officer
tel. (+32)(0)2 286 18 97
mob. (+32)(0)490 57 63 49




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