The Polish government has approved a draft law setting new long term subsidies for renewable energy sources. The draft, which needs to be approved by the Parliament and the President, ensures the the maintenance of the existing system and introduces auctions as of 1 January 2015: developers and owners of renewable power plants will be able to sell their electricity during these auctions for a fixed price, guaranteed over 15-years regardless of market price. Two auction procedures will be led for plants below 1 MW and plants over 1 MW. Subsidies would also be capped. Existing renewable power plants could opt for keeping their current subsidies or choose to join the auctions. The quantity and value of renewable electricity from plants up to 1 MW for the next year will be determined every year by 30 November.
Poland has been reviewing its legal framework on renewables over the past two years, trying to reduce the cost of the existing subsidy system, expected to rise to PLN7.5-11.5bn/year by 2020 (€1.8-2.8bn/year).
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