At its today’s sitting, the Economic Affairs Committee of the Riigikogu (Parliament of Estonia) discussed the amendments to the Electricity Market Act, under which in the future the buying of renewable energy will be market-based and by adjudication. Besides that, trade in statistics will be launched.
Member of the Economic Affairs Committee Kalle Palling, who presented the Bill, said that amending the Electricity Market Act would enable Estonia to sell statistics of energy produced from renewable sources to other Member States that were not able to meet the renewable energy percentage targets for 2020 by itself.
“Trade in statistics will make it possible for Estonia to produce renewable energy without burdening the Estonian consumers. The subsidy necessary for the production of renewable energy is paid by the Member State that wants to buy renewable energy statistics from Estonia,” Palling said. “Participation in trade in statistics will give Estonia additional jobs in forestry sector and enliven the economy.”
Palling explained that besides the profit earned, sold statistics would also make it possible to reduce the renewable energy costs to the consumer and thus also reduce the renewable energy charge indicated on the electricity bills of the people.
Deputy Chairman of the Economic Affairs Committee Mihhail Korb said that it was necessary to amend the Electricity Market Act. He said that the final aim should be lower price of electricity for the consumer and reducing of environmental pollution. Korb expressed hope that after long and complicated discussion it would be possible to achieve these targets.
“New regulations of the electricity market have been awaited a long time,” Minister of Economic Affairs and Infrastructure Kristen Michal said. He told the Economic Affairs Committee that two most important planned changes were the possibility to start selling renewable energy statistics to other Member States of the EU and the market-based buying of renewable energy in order to burden the consumer less.
The Minister said that trade in statistics would enable Estonia to earn tens of millions of export revenue and create around two thousand jobs in the forestry sector. “In order to achieve Estonia’s renewable energy targets, adjudications will be held in the future and their result will be seen in more favourable price for the consumer,” Minister Michal added.
The Economic Affairs Committee decided to send the Bill on Amendments to the Electricity Market Act (290 SE), initiated by the Government, to first reading at the plenary sitting of the Riigikogu on 9 November. Proposals for amendments can be submitted until 23 November.
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