The European Union Has Approved Poland's $11 Billion Renewable Energy Support Policy

- Dec 19, 2017-

The European commission has approved the government's $11 billion renewable energy support policy.

The European commission said the polish government's plans for renewable energy and plans to reduce financial support for energy-intensive users were in line with eu aid policies.

Margrethe Vestager, head of competition policy at the European commission, said: "we want to promote green energy, protect the environment while promoting economic development in Europe.Poland's renewable energy policy will further increase Poland's green energy mix, helping to transform the country's energy sector.It will also increase the competitiveness of companies that rely heavily on energy.

According to the plan, Poland has completed two rounds of renewable energy tenders and the remaining bids will be completed by June 30, 2021.The commission said: "this fee is intended to help these facilities compensate for the unrecoverable cost of electricity sold on the market, resulting in a reasonable return on investment."

The plan will help Poland meet its environmental and climate change goals by 2020 by imposing a surcharge on electricity consumers.