On October 21 2015 Parliament passed a bill on increased targets for renewable energy production. In line with the proposal presented earlier in 2015, the bill increases the target for renewable electricity production in the Swedish-Norwegian electricity certificate market from 26.4 terawatt hours (TWh) to 28.4TWh by 2020 (for further details please see "Increased target for renewable electricity production"). This requires a 30TWh increase in Swedish renewable electricity production from 2002 to 2020. To finance the increased production, the bill has adjusted the quota requirement for electricity certificates, meaning that certain producers and endusers must now purchase more electricity certificates.
The bill also includes a technical adjustment of the quota requirement. The technical adjustment was introduced to align the quota requirement with updated estimates on relevant consumption and production, and aims to reduce the surplus of electricity certificates and increase their price.
The proposal and Parliament's subsequent decision have been welcomed by the trade association Swedish Wind Energy.
For further information on this topic please contact Peter Högström, Jörgen Möller or Philip Tonkin at Advokatfirman Lindahl KB by telephone (+46 8 527 70 800) or email ([email protected], [email protected] or [email protected]). The Advokatfirman Lindahl KB website can be accessed at www.lindahl.se.
This article was first published by the International Law Office, a premium online legal update service for major companies and law firms worldwide. Register for a free subscription.
