European Interest

Brussels approves Greek auction scheme for renewable electricity

Flickr/Jonathan Potts/CC BY-NC-ND 2.0

A Greek auction scheme for the production of electricity from renewable sources and high efficiency cogeneration is in line with EU State aid rules, according to the European Commission.

“Greece will bring down costs for renewable energy with competitive auctions to support renewable electricity generation,” said EU Commissioner Margrethe Vestager, in charge of competition policy. “This is very good and the scheme will facilitate Greece’s efforts to reach its 2020 climate goals.”

Under the scheme Greece will organise regular, competitive auctions to grant support to renewable energy sources. For instance, Greece will organise separate auctions for wind and solar installations this year in order to determine their market potential.

As of 2019, joint auctions for both wind and solar installations will be held to increase competition and reduce the cost for consumers of renewable energy in Greece.

State support for other renewable energy technologies will be subject to auctions as soon as they become more mature in the Greek electricity market (when they reach a predefined level of market penetration). Also, Greece will evaluate the bidding processes in 2020, before designing bidding processes for the period 2021-2025.

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