The main power utility’s prospective Ptolemaida V power station, now being developed, will most likely be eligible for CAT remuneration, the European Commission’s Permanent Representatives Committee (COREPER) has indicated.
According to the European Commission’s clean energy package, now being shaped, EU support mechanism subsidies will be reserved for units whose CO2 emissions do not exceed 550 grams per KWh. This upper limit promises to exclude units driven by fossil fuels such as carbon and lignite.
The clean energy rule is expected to soon be implemented for all new power stations and also apply for existing units as of July 1, 2025. From this date onward, units fueled by fossil fuels will no longer be valid for CAT remuneration.
Luckily for PPC’s Ptolemaida V project, the European Commission decided, in December, to offer exemptions to the rule as a result of a request made by Poland, whose economy and electricity production are heavily reliant on coal. This sets a precedent. PPC’s effort to ensure CAT remuneration for Ptolemaida V, expected to be launched in 2021, stands to benefit from the development.