The European Commission said on January 4 that the EC has found a Greek auction scheme for the production of electricity from renewable sources and high efficiency cogeneration to be in line with EU State aid rules.
According to the Commission, the scheme will further EU energy and climate goals whilst preserving competition.
“Greece will bring down costs for renewable energy with competitive auctions to support renewable electricity generation,” Competition Policy Commissioner Margrethe Vestager said. “This is very good and the scheme will facilitate Greece’s efforts to reach its 2020 climate goals,” she added.
Under the scheme Greece will organise regular, competitive auctions to grant support to renewable energy sources.
The Commission said the EC has assessed the scheme under EU State aid rules, which require competitive auctions for renewables support since 2017, so as to ensure that the use of public funds is limited to the minimum and there is no overcompensation.
According to the Commission, the Greek auctioning scheme will boost the share of electricity produced from renewable energy sources, in line with EU environmental objectives, while any distortion of competition caused by the state support is minimised.