Decision for the amendment and supplementation of Government Decision no. 1096/2013 approving the mechanism of transitional allocation of greenhouse gas emission certificates free of charge to electricity producers, for the period 2013-2020, including the National Investment Plan.

According to Government Decision no. 1096/2013, greenhouse gas emission certificates are to be allotted transitionally and free of charge to electricity producers owning plants which were operational up to December 31, 2008 or whose investment process was initiated up to the same date, on the condition that the equivalent value of the allotted certificate is to be exclusively used for the financing of the investments set out in the National Investment Plan.

The draft amendment of Government Decision no. 1096/2013 proposes the following modifications:

  • payment of the equivalent value of the greenhouse gas emission certificates allotted free of charge to electricity producers is to be made in two equal installments in order to ensure the regular and balanced establishment of the funds from which the investments in the National Investment Plan are financed on a non-reimbursable basis;
  • non-reimbursable financing may be requested within no more than 2 years as of the commencement of the investment, mentioned in the National Investment Plan, only for new investments, for commissioned and ongoing investments, the operators having an interest in immediately requesting non-reimbursable financing. New investments which fail to apply for nonreimbursable financing within the specified time-limit risk not being commissioned by the end of the 1st semester of 2010;
  • “new investment” is defined as an investment whose commencement date falls after the execution of the financing agreement, but no later than 6 months as of the execution thereof.
  • the beneficiaries of the investments in the National Investment Plan which are commissioned or are in progress at the execution of the financing agreements, including the beneficiaries of investments for which the investment’s commencement date falls prior to the commencement year set out in the National Investment Plan, receive non-reimbursable financing which also includes the equivalent of the expenses invoiced and paid after June 25, 2009. The reimbursement of these expenses will be performed by installments, by 2020, according to the financing agreement.
  • beneficiaries of investments, which hold plants for which greenhouse gas emission certificates were allotted, can apply for non-reimbursable financing only if they provide proof of the payment of their equivalent value. Beneficiaries who fulfilled their obligations with respect to the establishment of the funds which ensure non-reimbursable financing cannot apply for nonreimbursable financing.
  • the possibility of applying for a pre-financing in the limit of 10% of the value of the eligible reimbursable expenses, i.e. 10% of the non-reimbursable financing, is set out.

Draft Emergency Ordinance for amending and supplementing Law no. 123/2012 on electricity and natural gas The draft emergency ordinance sets out that, as of July 1, 2014 and until December 31, 2018, natural gas producers in Romania and their affiliates must sell on centralized markets in Romania, in a transparent and non-discriminatory manner, a minimum quantity of natural gas, in compliance with the regulations