RES rates paid to producers of electricity ‘biggest scandal of our time’

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RES rates paid to producers of electricity...
 © CyprusMail 2020
State-aid Commissioner Theophanis Theophanous on Thursday dubbed the “biggest scandal of our time” an affair relating to the rates paid to producers of electricity from renewable energy sources (RES).

At the House watchdog committee, MPs heard of a “phantom committee” and that, to date, the state may have paid some €55m extra to RES producers than it otherwise might have.

Under a 2008 cabinet decision, investors in wind farms were guaranteed 16.6 cents per kilowatt-hour (kWh) over a 20-year period.

That decision did feature a rate negotiation...


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RES rates paid to producers of electricity ‘biggest scandal of our time’


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Article Tags: rates, producers, electricity, biggest, scandal,