On 15 September 2015 the first draft of the regulation of the Ministry of Economy which sets reference prices of electricity generated from renewable energy sources (“RES”) was published. The regulation is an executive act to the Renewable Energy Sources Act of 20 February 2015 (“RES Act”).

Under the RES Act those RES installations which initiate generation of energy on or after 1 January 2016 will compete for support in auctions organized by President of the Energy Regulatory Office. The main criterion of an auction will be the unit price for renewable electricity. The price offered by the bidders cannot be higher than a statutory reference price i.e. the maximum bid price. The above mentioned draft sets these reference prices for 2016.

The reference prices are determined separately for eligible technologies and depend on the size of the installations. The reference prices were divided between RES installations which start generating renewable energy after 1 January 2016 and RES installations modernized after 1 January 2016.

A separate reference price was foreseen for RES installations which start generating renewable energy before 1 January 2016 and have the right to support in the form of green certificates, however will participate in the auction system voluntarily. This reference price was not published yet.

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