Emission rights auctions to fund energy efficiency

The Ministry of Environment and Energy plans to implement the energy efficiency policy mandated by the European Union by using 40% of funds raised at carbon emission rights auctions, portal Energy Press reported. The remainder will be transferred to the special account for renewable sources, according to the Greek ministry’s report to the Regulatory Authority for Energy, the article said. The aim is to avoid the increase in Etmear, the renewables levy in electricity bills, and to reduce it.

The industrial sector has opposed the solution for its share of Etmear and its representatives have been calling for adoption of an upper limit at 0.5% of a company’s economic value added. RAE’s distribution plan, which came into force in December, was to collect EUR 937 million from Etmear surcharges this year, compared to EUR 1.07 billion from 2015.