The promotion of energy production from renewable sources foresees the provision of a favorable price that guarantees a reasonable return on the investment.

This Monday, The Energy Regulator Authority approved starting procedures in determining a price for photovoltaics with an installed capacity up to 2MW and wind turbines up to 3MW.

The use of renewable energy sources is now covered by a new law approved in 2023, however, it is yet to be applied as bylaws are still pending approval.

Thus, the methodology that will continue to be applied to determine prices at this point will be the one approved in 2017 through a decision of the Council of Ministers, as well as according to the legal framework of the same year.

The methodology contains a calculation of average prices in order to derive a reasonable price for the investment that the subjects perform.

In the initial stages, this calculation was done according to prices provided by the Energy Regulator Authority and references, whereas now, prices are calculated according to figures provided by the entities in concrete investments.

Currently, the approved price for energy purchased by the state from photovoltaic sources with a capacity of up to 2MW is 71.2 euros/MWH, while that from wind turbines is 75.64 euros/MWH.

These prices have decreased compared to those initially approved by the Energy Regulator Authority, 100 euro/MWh for wind turbines and 76 euro/MWh for wind turbines.