The EU Executive Committee said it had approved a Czech subsidy program worth 420 million euros for more efficient power plant power generation.
The European Commission said that the plan will help the Czech Republic to achieve 2020 renewable energy, energy efficiency and greenhouse gas emissions targets, while not affecting its competitiveness.
According to the plan, efficient power plants will be eligible for fixed subsidies above market prices. The national budget and consumer surcharges will be financed from January 2020 to December 2020.
The committee said the subsidy program would increase energy efficiency, reduce carbon dioxide emissions and protect the environment. The EU regulations adopted in 2014 allow Member States to provide similar subsidies.
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