|Policy status:||In Force|
|Policy Type:||Policy Support>Institutional creation, Economic Instruments>Fiscal/financial incentives>User charges|
|Policy Target:||Multi-Sectoral Policy|
|Agency:||Energy Service of the Ministry of Commerce, Industry and Tourism|
|Legal References:||Law No. 33 I 2003|
The law provides for the establishment of a fund that finances the premium tariff and other costs related to renewable electricity generation.
The Fund has its own budget, which is defined every year by the Committee and it depends on the approval of the Board set by the Ministry for Commerce, Industry, and Tourism and the House of Representatives. In addition, the law states that every electricity consumer has to pay a tax of €0.13/kWh to finance the Fund.
The definition of renewable energy according to this law includes non-fossil renewable energy sources such as wind, solar and geothermal energy, wave energy, tidal energy, hydropower, biomass and biogas.
|Related policies:||Support Scheme for Electricity Generation from Renewables (SSRES)|
A. “Cyprus” relates to the southern part of the Island. There is no single authority representing both Turkish and Greek Cypriot people on the Island. Turkey recognises the Turkish Republic of Northern Cyprus (TRNC). Until a lasting and equitable solution is found within the context of United Nations, Turkey shall preserve its position concerning the “Cyprus” issue.
B. The Republic of Cyprus is recognised by all members of the United Nations with the exception of Turkey. The information in this document relates to the area under the effective control of the Government of the Republic of Cyprus.
Last modified: Mon, 30 Oct 2017 12:35:35 CET