EU Tells Alcoa to Repay Italy State Aid

Claims company received subsidized electricity prices for two smelters

EU regulators on Nov. 19 ordered aluminium giant Alcoa to repay Italy for illegal state aid received since 2006 in the form of subsidized electricity prices for two smelters.

The European Commission did not detail the amount to be returned.

"Price subsidies that result in artificially low energy prices for selected companies waste taxpayers' money and distort competition in the single market," EU Competition Commissioner Neelie Kroes said.

"Alcoa will have to pay back most of the illegal subsidies," she said.

Copyright Agence France-Presse, 2009

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