31 Jul 2012
Law no. 134/2012 for the approval of Emergency Ordinance no. 88/2011 regarding the amendment and supplementation of Law no. 220/ on the promotion of renewable energy sources has been published in the Official Gazette, Part I, no. 505 dated 23 July 2012. The law that came into force on 26 July 2012 brings important amendments to the support system.
The law guarantees that no revision of the support scheme vis-a-vis potential overcompensation will occur before January 1st, 2015.
It also introduces the obligation of energy suppliers to report fulfillment of mandatory green certificate quotas, as established by ANRE, on a quarterly basis, which is expected to influence the dynamics of the green certificate market and provide liquidity.
Correspondingly, the law requires suppliers and producers not reaching the quarterly mandatory quotas to pay relevant fines published by ANRE for the respective year, within a maximum of 45 days as of the end of each quarter.
The payment shall be made to a green-certificates-market guarantee fund, established and administrated by OPCOM (i.e. the green certificates market operator). The fund shall guarantee green certificate off-take by buying excess green certificates, at a price not lower than the established minimum price.
At the end of each quarter OPCOM will post on its website a weighted average price of the GCs traded during the ending three months, and such value is to be used for calculation of the green certificate price component and reported to the end consumers on their invoices.
Law no. 134 brings a clarification concerning priority access of renewable energy to the network, stating that it applies only if the safety of the National Power Grid is not affected.