An emissions trading mechanism by electricity producers will be put into effect by the end of the year.
The Public Utilities Authority (Electricity) announced today that within three months it will set rates for renewable energy power producers. In addition, an emissions trading mechanism by electricity producers will be put in place by the end of the year.
The decisions were taken after the Public Utilities Authority discussed a report by an inter-ministerial team on implementing a decision by the previous government to promote the production of power by renewable energy sources. The Public Utilities Authority adopted the report's recommendations and outlined a timetable and the principles for implementing a rates mechanism for the production of power from renewable energy sources.
The government decided that at least 2% of Israel's electricity production would come from renewable energy sources by 2007.
In accordance with the report's recommendations, the Public Utilities Authority decided that a premium for preventing pollution would be added to the rates for renewable energy power producers. The premium will reflect the savings by avoiding pollution from using clean energy sources instead of polluting fuels, as determined by the report.
Published by Globes [online] - www.globes.co.il - on February 11, 2004