Connect with us

Hi, what are you looking for?

Trending news

Next step in the Renewable Energy Expansion Act: Market Premium Ordinance enters review phase

>

Subsidies for the generation of green electricity by wind, solar, hydro and biomass

Vienna (OTS) – With the three-week review of the market premium ordinance of the Renewable Energy Expansion Act starting today, the federal government is enabling the expansion of wind power, photovoltaics, biomass, hydropower and biogas plants. The power plants that will be enabled by this ordinance will generate 4.5 billion kilowatt hours of domestic green electricity annually. This will not only save Austria 1.5 million tons of Co2 annually, but also the import of fossil energy.

Almost 300 million euros are already available for the construction of smaller plants (PV, wind, biomass, hydropower) within the framework of the EAG investment subsidies. The market premium regulation will mobilize further funds. Unlike the investment subsidy, the market premium does not provide a subsidy for the construction of the plants, but a subsidy for generation in case of too low market prices. The construction of renewables forces more expensive fossil-fuel power plants out of the market.

For the first time, the subsidy for green power plants will be fixed for two years. For 2022 and 2023, quotas of 700 megawatts of photovoltaics, 280 megawatts (2020) and 390 MW (2023) of wind power, 15 megawatts of biomass and 90 megawatts of hydropower (2022) and 170 MW (2023) and 1.5 megawatts of biogas are available for electricity generation. The first funding calls are scheduled to take place in the fall of 2022 and will be processed through the EAG processing center.

Green power expansion with the Renewable Expansion Act is expected to continue the record year of 2022. Over the entire term, the EAEC generates a total value added of EUR 21.6 billion. The employment effects amount to 254,000 jobs (25,400 jobs annually).

Leonore Gewessler, Climate Protection Minister: “The brutal war in Ukraine and Vladimir Putin’s attempts at blackmail make it clear to us: we have to get out of fossil fuels – and as quickly as possible. The market premium regulation is another important step in this direction – because every new photovoltaic system, every wind turbine, every biomass plant brings us back a bit of independence and protects our climate.”

Martin Kocher, Minister of Economic Affairs: “With the Market Premium Ordinance, we are promoting the expansion of green electricity and thus enabling planning security for domestic companies. The expansion of renewable energy sources has positive effects on the labor market and leads to significant value-added effects for Austria as a business location. In view of current geopolitical developments, the rapid expansion of alternative forms of energy is a necessity in order to ensure long-term and sustainable security of supply.”

BM for Climate Protection, Environment, Energy, Mobility, Innovation and Technology
Florian Berger
Press Spokesman of the Federal Minister
01/71162-658010
[email protected]
www.bmk.gv.at

OTS-ORIGINAL TEXT PRESS RELEASE UNDER EXCLUSIVE CONTENT RESPONSIBILITY OF THE SENDER. www.ots.at
© Copyright APA-OTS Originaltext-Service GmbH and the respective sender

The post Next stage in renewable expansion law: market premium ordinance goes into review appeared first on TOP News Austria – News from Austria and around the world.

Advertisement

You May Also Like

Health

BongaCams, the world’s most popular webcam site, has issued its first exclusive collection of NFTs!  The collection celebrates BongaCams’ 10th birthday coming up in...

Politics

Despite all the progress, prejudices and stereotypes are still strong in society. People often judge a person by his or her appearance, and if...

Politics

As a businessman, I am constantly in contact with friends and colleagues from across Europe. Business, of course, is global and economic integration is...

Trending news

Curb the attack! is the title of Brussels Ukraїna Review’s special issue about the threat of a full invasion of Ukraine by Russia. The...