Energy Efficiency Fund Sources Expanded By New Amendments In Azerbaijan
Date
12/20/2024 8:09:00 AM
(MENAFN- AzerNews)
Nazrin Abdul
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The sources for forming the energy efficiency fund are being
expanded.
Azernews reports that this issue was discussed
in the amendments to the Law "On the Effective Use of Energy
Resources and Energy Efficiency," which were included in today's
meeting agenda of the Milli Majlis (Parliament) of Azerbaijan.
The draft law aims to establish the fund's sources and improve
how it is utilized. It plans to expand the fund's formation
sources. According to the draft law, legal grounds will be created
for transfers to the energy efficiency fund from the sale of energy
types whose prices are not regulated by the state, yet have a
significant share in production and consumption and negatively
impact the environment.
The addendum to the "Regulation on the Formation and Use of
Energy Efficiency Fund," approved by Presidential Decree No. 13 on
March 1, 2024, currently only includes four energy products with
regulated tariffs - electricity (excluding that produced from
renewable sources), natural gas, EU-92 gasoline, and diesel fuel.
The law will allow transfers from the sale of four additional types
of energy products with non-regulated prices, significantly
increasing the fund's income.
Funds will be directed solely toward promoting energy efficiency
measures, as outlined in Article 15.2 of the Law. This will help
ensure more efficient use of fund resources. The law will also
support the implementation of energy efficiency measures,
scientific and technical support, smart meters, cogeneration
facilities, renewable energy projects, and initiatives to reduce
environmental harm. Additional incentives like grants, subsidies,
pilot projects, and concessional loans will also be available.
After discussion, the amendment was adopted in the third
reading.
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