Thursday, September 8, 2011

Romania to Pass Renewable Law by Year End, Regulator Says

The Romanian parliament may approve a law on renewable energy by the end of this year which will give incentives for investors, said Zoltan Nagy-Bege, the head of the country’s energy regulator.

The government will amend the law, cleared by the European Commission, by the end of September and then seek approval from parliament, Nagy-Bege said today at an energy conference in the southern Romanian city of Constanta.

Romania plans to generate 24 percent of its energy from renewable sources and 42.62 percent of its gross domestic electricity consumption from renewables by 2020. The European Union has a target to get 20 percent of energy from renewables within the same timeframe.

The law change may mean consumer electricity prices increase by 10 percent next year to pay for renewable sources such as the building of wind farms, Nagy-Bege told reporters in Constanta, according to news service Mediafax.

To contact the reporter on this story: Andra Timu at atimu@bloomberg.net

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