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November 29, 2022

FinMin Caciu: Romania obtains 1.4 bln euros for projects of energy independence and combating energy poverty

Romania obtained almost 1.4 billion euros for energy independence projects and combating energy poverty, after the adoption of the REPowerEU proposal in the Ecofin Council, the country being the sixth EU beneficiary of the new allocated funds, announced Finance Minister Adrian Caciu.

The Finance ministers of the European Union reached a General Agreement under the REPowerEU initiative, during the meeting of the Economic and Financial Affairs Council held on Tuesday in Luxembourg.

“The funds will be secured from the auctioning of the greenhouse gas emission certificates related to the Innovation Fund (75%) and from the bringing forward of the auction of the ETS certificates allocated nationally related to the period 2027-2030 (25%). During the negotiations, the amount obtained by Romania practically doubled, compared to the initial proposal of the European Commission from May this year, when the allocation was approximately 720 million euros,” said Adrian Caciu, in a press release of the Ministry of Finance.

Through the Regulation approved on Tuesday in the Ecofin Council, a proposal, also supported by Romania, on the possibility of including in the new REPowerEU chapter some measures regarding energy independence from the initial PNRR, under the conditions of the recalculation of the envelope of grants from the initial allocation of the Recovery and Resilience Facility. The regulation also offers the possibility of combating energy poverty by financing aid schemes for disadvantaged categories.

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