EC approves Hungary renewable energy support scheme
The European Commission (EC) said Tuesday it has approved a Hungarian support scheme for renewable energy. The EC said the scheme, which will help Hungary reduce CO2 emissions while preserving competition, is in line with EU rules on state aid.
"The Hungarian support scheme will increase the share of green energy in Hungaryʼs energy mix, whilst preserving competition in the electricity market," said European Commissioner for Competition Margrethe Vestager, according to state news wire MTI.
The scheme, which has an annual budget of up to HUF 45 billion, will support the generation of electricity using renewable resources through a feed-in tariff for installations under 500 kW and a premium over market prices for installations with a capacity over 500 kW. For installations with a capacity above 1 MW, as well as for wind installations, the premium will be determined and beneficiaries selected in a competitive bidding process.
The EC noted that Hungary will partially open up the renewables support scheme to foreign producers as of 2017 to avoid discrimination.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.