EU Industries Get Break on Renewables Contributions
The European Commission adopted new rules that will require less funding for renewable energy from industry. The new rules address the commission’s concern that industrial support for renewables has caused “serious market distortions and increasing costs to consumers.”
The rules provide criteria on how EU member states can assist energy intensive companies that are particularly exposed to international competition from charges levied for the support of renewables.
The new guidelines will be valid from July 1, 2014 until the end of 2020. The guidelines also foresee the gradual replacement of feed-in tariffs by feed-in premiums, which expose renewable energy sources to market signals.
Some 68 different types of industry will have their contributions toward renewables capped at 15 percent of the companies’ gross value added (VAT) – the value of goods and services that a company produces, minus the cost of all inputs such as personnel and raw materials – compared to the previous 20 percent, according to the Wall Street Journal.
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