Plan to offset industrial CO2 rights costs in the pipeline

The energy ministry intends to attach an amendment for a plan to help offset CO2 emission right costs for energy-intensive industrial enterprises to a forthcoming draft bill, possibly one concerning public administration matters. Industrial enterprises have been pushing for the revision.

According to the plan, a 60 percent share of revenues raised from the sale of CO2 emission rights will be injected into the renewable energy sources (RES) special account maintained by LAGIE, the Electricity Market Operator. The contribution will help cover the account’s deficit and also provide funds needed for the plan intended to offset industrial carbon right costs.

The energy ministry has promised EVIKEN, the Association of Industrial Energy Consumers, major-scale industrial units will receive the amounts they are entitled to. The energy ministry has also told the association that faults detected in a previous attempt included in a bill submitted to Parliament last December before being withdrawn would be rectified.