PLN 60 billion from the Modernization Fund for Poland. What will this money be used for?

Luc Williams

ETS system it has been operating for almost twenty years, in a changed form – from 2021, the fourth phase of the system's operation will begin. It is intended to force emission reductions based on economic incentives.

Money for renovations

“We estimate that approximately PLN 60 billion is and will be available under the Modernization Fund by 2030. (…) This amount will depend on prices of emission allowancesbecause the allowances are sold on an ongoing basis by European Investment Bank and made available for the implementation of programs, including: in Poland,” Różycki said at a meeting of the subcommittee on energy transformation, renewable energy sources and nuclear energy.

Poland is one of the main beneficiaries of this fund, our share in the pool is 43%, he emphasized.

More money from ETS

He recalled that initially the Modernization Fund was to receive a pool of 2% of the total number of allowances, at this point, after changes under Fit for 55, an additional pool of 2.5% will be allocated to the Fund.

Several projects are being implemented from the fund, and more are being prepared. Modernization Fund is an instrument for financing the modernization of the energy system and improving energy efficiency.



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