EU launches probe into state aid for Greek metal firm

(BRUSSELS) - The European Union's competition watchdog on Wednesday launched an in-depth probe into preferential electricity tariffs afforded to the Aluminium of Greece company.

"We have to make sure that Aluminium of Greece did not receive an unfair economic advantage over its competitors but paid, as everybody else, the market price for the electricity and gas it bought," said EU Competition Commissioner Neelie Kroes, who has just days left in the post before she adopts a new portfolio.

A statement said the commission's investigation would seek to establish whether the tariffs "constitute illegal state aid."

It will also probe allegations that the state-owned Public Gas Corporation paid the construction costs of a gas pipeline belonging to Aluminium of Greece.

"Despite the commission's repeated requests, Greece has to date failed to provide any information on this allegation," the EU statement said.