Electricity

Zaev: Power prices must rise due to investments in green energy

Zaev Power prices rise investments green energy

Photo: Government of North Macedonia

Published

May 24, 2021

Country

Comments

0

Share

Published:

May 24, 2021

Country:

Comments:

0

Share

Prime Minister of North Macedonia Zoran Zaev said the costs of installing photovoltaics, wind farms and gas-fueled power plants imply higher electricity bills.

As part of efforts to develop the energy sector, the Government of North Macedonia will establish a renewable energy fund, Prime Minister Zoran Zaev told Slobodna TV. “We want green energy – the price of electricity will become higher,” he stressed.

Zaev attributed the forthcoming rise in electricity bills to investments in photovoltaics, wind parks and gas-fuelled power plants and said citizens should know that they cost money. Foreign policy, the amendments to the constitution and other activities are directed at achieving a higher economic standard of living, investments, more jobs and options for the citizens, he added.

Investment package worth billions of euros is being prepared, Zaev claims

The government is preparing an investment plan worth “billions of euros” including infrastructure and energy and it wants to talk to the opposition so that the activities can start, Zaev revealed.

The government will try to enable the shutdown of coal plants earlier than planned

“In the pandemic, the most important investment topics are renewable energy, energy efficiency, energy savings and digitalization. So we, like the rest of the world, are focused on that,” the prime minister underscored.

He highlighted the planned cooperation with Greece in a major project for liquefied natural gas (LNG) and said the pipeline would make North Macedonia a transit point for gas, where it may go through Kosovo* and Serbia toward Western Europe.

It will end the current gas supply monopoly and the price of the fuel would go down, but it will also lead to the stabilization of power prices, Zaev asserted.

Climate change is taking its toll

“Serious challenges are coming. Climate change is taking its toll. We must be an integral part of the world,” Zaev stated. He expressed optimism that coal-fired power plants REK Bitola and REK Oslomej would be closed earlier than planned.

Massive protests were organized last year when the Energy Regulatory Commission decided to raise power prices by more than 7%. While nominal tariffs are among the lowest in Europe, North Macedonia’s ratio of power prices and the average salary is among the highest.

* This designation is without prejudice to positions on status and is in line with UNSCR 1244/99 and the ICJ Opinion on the Kosovo declaration of independence.
Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Tender for desulphurization plant construction in TPP Tuzla open until November 15

Tender for desulphurization unit in Tuzla coal plant open until November 15

04 October 2022 - State-owned power utility EPBiH announced a tender for a flue gas desulphurization facility for unit 6 in TPP Tuzla

epcg gvozd 2024.

EPCG secures financing for Gvozd wind farm

03 October 2022 - EPCG is blaming the pandemic for the delay in the implementation of the 54.6 MW Gvozd wind farm project, Vijesti reported

CE Oltenia OMV Petrom four PV plants JVs

CE Oltenia, OMV Petrom to build four PV plants through JVs

03 October 2022 - OMV Petrom and CE Oltenia agreed to build four solar parks with a combined capacity of 450 MW at former coal mining locations in Romania

solar wind investments EU price cap

Wind, solar investors threaten to leave Europe because of revenue cap

03 October 2022 - The EU's wind and solar industries are threatening investments could go elsewhere after EU energy ministers voted to roll out revenue caps