News 20111004 rwea

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  • 1. News October 4th, 2011 AREE: Government has not yet approved renewable energy law because it fears of energy price rises Government has not yet approved law granting state aid by green certificates for renewable energy because it fears of much impact on electricity bills, said Tuesday Ionel David, public affairs consultant of Romanian Wind Energy Association (AREE). "This law will be discussed in the ruling coalition; there are concerns at the political level that the impact of the price will be 8%. AREE estimated that the impact will be only 4.76%. We sent these calculations to Prime Minister and Minister of Economy", David said in a seminar on energy. According to calculations by the National Authority for Energy Regulation (AREE), Romanias electricity consumers will pay €10 billion in addition to bills by 2020 to support investments in renewable energy. AREE estimated in August, after getting opinion from the EC, the law would be applicable in September, which however did not happen. Also, AREE considers that electricity prices paid by consumers would increase by 10% next year due to law enforcement. Legislation supports renewable energy projects through green certificates, which allow investors return on investment. Green certificates are issued for electricity produced from renewable sources and supplied to consumers. Thus, an investor makes money by selling both energy and green certificates as they are traded on the market, because electricity suppliers are obliged to buy the annual quota. This support scheme has already been approved by the European Commission. According to David, an installed capacity of 1 GW in wind brings state and local budgets €50 million in taxes. "CEZ invests in Dobrogea over €1 billion, more than Nokia or Ford investment in Romania, but does not produce anything tangible, visible", added David. Support through green certificates scheme will be implemented during 2011–2021. The biggest impact will be felt in 2016–2017, when consumers could end up paying for energy up to 30% more.Eng. Paul Keisch Page 1