European Union – Taxation. The third indent of art 2(4)(b) of Council Directive (EC) 2003/96 was interpreted by the Court of Justice of the European Union as meaning that, the electricity used for the operation of turbo blowers intended to compress the air subsequently used in a blast furnace in the process of producing pig iron by chemical reduction of iron ore was not 'electricity used principally for the purposes of chemical reduction' within the meaning of that provision.