Edition: International | Greek

Home » Europe

European Commission approves Greek auction scheme for renewable electricity

The European Commission has found a Greek auction scheme for the production of electricity from renewable sources and high efficiency cogeneration to be in line with EU State aid rules. The scheme will further EU energy and climate goals whilst preserving competition

By: EBR - Posted: Friday, January 05, 2018

text size [–] [+]
Moreover, Greece will evaluate the bidding processes in 2020, before designing bidding processes for the period 2021-2025. The Commission has assessed the scheme under EU State aid rules, in particular the 2014 Guidelines on State Aid for Environmental Protection and Energy.
Moreover, Greece will evaluate the bidding processes in 2020, before designing bidding processes for the period 2021-2025. The Commission has assessed the scheme under EU State aid rules, in particular the 2014 Guidelines on State Aid for Environmental Protection and Energy.

MORE ON Europe

Commissioner Margrethe Vestager, in charge of competition policy, said: "Greece will bring down costs for renewable energy with competitive auctions to support renewable electricity generation. This is very good and the scheme will facilitate Greece's efforts to reach its 2020 climate goals."

Under the scheme Greece will organise regular, competitive auctions to grant support to renewable energy sources. In 2018, Greece will organise separate auctions for wind and solar installations to determine their market potential. As of 2019, joint auctions for both wind and solar installations will be held to increase competition and reduce the cost for consumers of renewable energy in Greece.

State support for other renewable energy technologies will be subject to auctions as soon as they become more mature in the Greek electricity market, i.e. when they reach a predefined level of market penetration. Moreover, Greece will evaluate the bidding processes in 2020, before designing bidding processes for the period 2021-2025.
The Commission has assessed the scheme under EU State aid rules, in particular the 2014 Guidelines on State Aid for Environmental Protection and Energy. 

The Guidelines require competitive auctions for renewables support since 2017, to ensure that the use of public funds is limited to the minimum and there is no overcompensation. On this basis, the Commission concluded that the Greek auctioning scheme will boost the share of electricity produced from renewable energy sources, in line with EU environmental objectives, while any distortion of competition caused by the state support is minimised.
 
The decision follows the one of the Commission's in November 2016, which approved a support scheme to produce electricity from renewable energy sources and high efficiency cogeneration in Greece. The Renewable Energy Directive established targets for all Member States' shares of energy renewable energy sources in gross final energy consumption by 2020. For Greece, that target is 18% of domestic energy supplies produced from renewable sources by 2020.

Europe

Brexit: What Brexit?

Few want the UK to crash out of the EU without a deal. After a tumultuous week for Theresa May, the chances have risen that Brexit won’t happen at all

Business

Huawei in heavy weather

Germany and Britain are preparing for auctions for 5G, the superfast service that will enable a new generation of digital products and services

Editor’s Column

Britain becomes an EU colony?

By: N. Peter Kramer

The dust has a bit settled on Theresa May’s Brexit deal with the EU. It looks like that more people took the chance to read more of it and to compare it, for instance, with a no-deal that no one knows what exactly will mean

MARKET INDICES


Live World Indices are Powered by Forexpros - The Leading Financial Portal.

Magazine

View 4/2018 2018 Digital edition

Current Issue

4/2018 2018

View past issues
Subscribe
Advertise
Digital edition

All contents © Copyright EMG Strategic Consulting Ltd. 1997-2018. All Rights Reserved   |   Home Page  |   Disclaimer  |   Website by Theratron