2012/339/EU: Commission Decision of 13 July 2011 on the State aid No SA.26117 — C 2/10 (ex NN 62/09) implemented by Greece in favour of Aluminium of Greece SA (notified under document C(2011) 4916) Text with EEA relevance

• Articles: 5

Article 1

1.   The State aid amounting to EUR 17,4 million unlawfully granted by Greece in breach of Article 108(3) of the Treaty on the Functioning of the European Union, in favour of Aluminium of Greece SA and its successor Aluminium SA, by way of a preferential electricity tariff, is incompatible with the internal market.

2.   The extension of the national gas grid does not constitute aid within the meaning of Article 107(1) of the Treaty on the Functioning of the European Union.

Article 2

1.   Greece shall recover the aid referred to in Article 1, paragraph 1, from the beneficiary.

2.   The sums to be recovered shall bear interest from the date on which they were put at the disposal of the beneficiary until their actual recovery.

3.   The interest shall be calculated on a compound basis in accordance with Chapter V of Commission Regulation (EC) No 794/2004  ( 14 ) and to Commission Regulation (EC) No 271/2008  ( 15 ) amending Regulation (EC) No 794/2004.

4.   Greece shall cancel all outstanding payments of the aid referred to in Article 1, paragraph 1, with effect from the date of adoption of this decision.

Article 3

1.   Recovery of the aid referred to in Article 1, paragraph 1, shall be immediate and effective.

2.   Greece shall ensure that this decision is implemented within four months following the date of notification of this Decision.

Article 4

1.   Within two months following notification of this Decision, Greece shall submit the following information to the Commission:

(a)

the total amount (principal and recovery interests) to be recovered from the beneficiary;

(b)

a detailed description of the measures already taken and planned to comply with this Decision;

(c)

documents demonstrating that the beneficiary has been ordered to repay the aid.

2.   Greece shall keep the Commission informed of the progress of the national measures taken to implement this Decision until recovery of the aid referred to in Article 1, paragraph 1, has been completed. It shall immediately submit, on simple request by the Commission, information on the measures already taken and planned to comply with this Decision. It shall also provide detailed information concerning the amounts of aid and recovery interest already recovered from the beneficiary.

Article 5

This Decision is addressed to the Hellenic Republic.