10:55 29.07.2021

Energy Ministry asks Finance Ministry to support Guaranteed Buyer's initiative to issue govt bonds to pay for 20% of 'green' electricity for 2021

2 min read
Energy Ministry asks Finance Ministry to support Guaranteed Buyer's initiative to issue govt bonds to pay for 20% of 'green' electricity for 2021

The Ministry of Energy appealed to the Ministry of Finance with a request to support the initiative of the state-owned enterprise Guaranteed Buyer to issue government domestic loan bonds to ensure settlements with renewable energy generation for 2021 in the amount of UAH 13.62 billion or offer another method of financing from the budget at least 20% of the forecast production of "green" electricity, which is provided for by Article 8 of the law on alternative energy sources.

"We ask to consider and initiate the introduction of appropriate amendments to the law on the state budget for 2021 or consider the possibility of implementing article [Article 8 of the law on alternative sources] as another way," according a letter of the Ministry of Energy signed by Deputy Minister Yuriy Vlasenko, which is available to Energy Reform.

At the same time, the Ministry of Energy emphasizes that, according to the Budget Code, amendments to the budget can be considered at the Verkhovna Rada in this case only if there is an expert opinion from the Ministry of Finance.

According to the latest data from Guaranteed Buyer, payment for "green" electricity purchased in 2021 is 93% in January-April, 71% in May, 62% in June and 71% for ten days of July.

As reported, Guaranteed Buyer developed a draft law on the issue of government bonds in the amount of UAH 13.62 billion to pay for green electricity in 2021 and sent a package of documents to the Cabinet of Ministers.

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