EU approves Czech plan to subsidize efficient electricity

By The Associated Press | Posted - Mar. 7, 2017 at 9:15 a.m.



This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

PRAGUE (AP) — The European Union's executive commission says it has approved a Czech subsidy plan worth 420 million euros ($444 million) for electricity generated through more efficient power plants.

The European Commission says the plan will help the Czech Republic meet 2020 targets for renewable energy, energy efficiency and greenhouse gas emissions while not affecting competition.

Under the scheme, high-efficiency power plants will be eligible to receive a fixed contribution on top of the market price. The state budget and a consumer surcharge will finance it from January 2016 till December 2020.

The commission says the plan will increase energy efficiency, reduce CO2 emissions and protect the environment. EU rules adopted in 2014 allow member states to provide such subsidies.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

The Associated Press

    SIGN UP FOR THE KSL.COM NEWSLETTER

    Catch up on the top news and features from KSL.com, sent weekly.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast