Energy Efficiency

Green fund seeks approval for greater deficit

fund

Published

July 19, 2016

Country

Comments

0

Share

Published:

July 19, 2016

Country:

Comments:

0

Share

As the previous government planned tenders and public calls for energy renovation of houses and buildings unrealistically and in a financially unsustainable way, the budget of the Environmental Protection and Energy Efficiency Fund (FZOEU) for this year and next was burdened with HRK 750 million (EUR 100 million) of obligations which are difficult to settle, acting director Ljubomir Majdandžić said.

He stressed the fund has contracted a large number of projects and now current liabilities are greater than income. Therefore, according to Majdandžić, FZOEU will request approval for the overdraft on its account in the amount of up to EUR 13.4 million from the government for financial liquidity.

Revenues of FZOEU were affected by the policy of reducing legal fees paid by polluters.

Revenues of FZOEU were affected by the policy of reducing non-tax fees based on the environmental charge for motor vehicles, the abolition of the returnable fee for packaging of milk and milk products and other items. It said lower share prices of emission allowances on European exchanges were the reasons it will earn EUR 13.4 million less this year.

FZOEU is a non-budgetary institution with accounts filled by legal fees paid by polluters. Revenues are used to finance projects of energy efficiency, environmental protection and nature, as well as to finance the system for managing special categories of waste, Majdandžić explained. Financial plan for this year foresees revenues and receipts at EUR 214 million, he added.

Tags:

Related Articles

Finnish startup Cactos retrofitting old Tesla batteries other energy storage uses

Finnish startup retrofitting old Tesla batteries for other energy storage uses

01 December 2022 - Cactos from Finland gives alternative purposes to second-life electric vehicle batteries, with the help of its cloud-based software

HERMANN Petr_interview_Schneider Electric BGEN

Future of successful businesses relies on their digital transformation

30 November 2022 - Digitalisation changes everything because it connects all processes and provides a complete result, notes Petr...

Seven green ventures Clim@ Scaler accelerator program

Seven green ventures complete Clim@ Scaler accelerator program

21 November 2022 - The GGF and Rockstart held a closing event for the first edition of their Clim@ Scaler accelerator program

waste-to-energy-incinerators-vienna-waste-incinerator

Waste-to-energy in Serbia – a cause for concern or an opportunity to reap environmental-climate-energy benefits

11 November 2022 - In this latest article in the series "Serbia, from garbage dumps to circular economy", we discuss the waste-to-energy concept with Professor Vladimir Pavićević, Igor Jezdimirović, and Helga Stoiber