ECONOMY

RES power purchase agreements for industries

res-power-purchase-agreements-for-industries

The Energy Ministry is considering bringing forward the option for big electricity consumers to reach power purchase agreements (PPA) with renewable energy source producers as a solution to the major problem of the high cost of energy for industries.

This will be done through a mechanism currently being created in cooperation with the European Union’s energy and competition regulators in order to be compatible with the European institutional framework.

This mechanism, sources say, will contain incentives associated with the reduction of the companies’ environmental footprint, and are expected to lead to competitive power rates.