Support of electricity from renewables to be set by auctions

Financial support for electricity produced from new renewable energy sources (RES) should be determined through auctions, according to a draft amendment which the Economy Ministry submitted for interdepartmental review on Monday. It preserves the rights of existing producers but limits support for new installations." For new larger outputs of over 500 kilowatts, the new rules will introduce an auction where the state will choose a device to produce electricity from renewable energy sources, which it will support. The final price will be the result of a competition," said Economy Minister Peter Žiga, adding that the priority of the amendment is to ensure cost efficiency with a minimum impact on final energy prices. The current setting of a system to support electricity produced from RES imposes an obligation for regional power distributors to buy the supported electricity that is used to cover losses in the system. This should be replaced by a centralized purchase through a single buyer. One clearing agent will be introduced, which will be the company OKTE (electricity market organizer).