OSLO (dpa-AFX) - Norsk Hydro said the Norwegian government, industry
associations and trade unions have reached an agreement on the future of the
Norwegian CO2 compensation scheme, valid from 2024 until 2030. The agreement
includes an annual maximum CO2 compensation for eligible industries of 7 billion
Norwegian Kroner. The agreement was between the Norwegian government, Norsk
Industri, Industri Energi & Forbundet for ledelse og teknikk, Fellesforbundet,
LO, and NHO.

Based on current production, Norsk Hydro estimates it will be eligible for a CO2
compensation of approximately 3.2 billion Norwegian Kroner for 2024, payable in
2025. The company noted that the revised CO2 compensation scheme will be subject
to approval by EFTA Surveillance Authority, as well as the Norwegian parliament
annual approval.



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