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News Summary: EU probes Germany's energy discounts

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The Associated Press | March 6, 2013 12:06 PM EST | AP


PULLING THE PLUG? The European Commission formally launched an investigation to find out whether energy price cuts granted to industrial clients in Germany is a hidden form of state aid.

SHORT CIRCUIT: The EC said that large electricity consumers were exempt from paying around (EURO)300 million ($390 million) in network charges last year alone – an arrangement that may have put competitors in other member states at a disadvantage.

NOT SHOCKING: An Economy Ministry spokesman argued that the reduction is not state aid, because it is financed not by public money but by a fee for all energy users.