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Green energy support cutback proposal sparks protest

The Hungarian Association of Renewable Energy Sources (MMESz) has sent a petition to Prime Minister Viktor Orbán and four ministers to protest against a Fidesz energy policy proposal which the MMESz has described as half-baked and unfounded. The proposal seeks to slash government subsidies to co-generation plant and alternative energy producers by 25% and 35% in two steps. Hungary spent HUF 70 billion last year to support alternative energy production in the form of price support under a compulsory feed-in system introduced several years ago. The MMESz says the proposal goes against Hungary's interests and similar tried-and-tested systems in other countries. It would also cause the imminent bankruptcy of green energy companies who invested billions of forints to produce energy from alternative source and yet to see a return on their investment.