Energa expects PLN 150 mln boost from the new law on renewables

WSE-listed power utility Energa expects to increase its next year’s earning by PLN 150 million due to a new bill on renewables which affects the pricing of certificates of origin, the company said in a market filing. The forecast was built on a substitution fee estimated at PLN 43 per MWh, and includes both revenue and costs. On Monday President Andrzej Duda signed into law a controversial bill on renewable energy which rejigs substitution fees for power sales not covered by certificates of origin. The bill, submitted to the lower house in July, would tie the fees to average prior year commodity market prices for certificates of origin. It also allows for state-owned utilities to cancel long-term deals for delivery of renewables, which according to critics will curb its development in Poland.