The Austrian National Parliament has voted in favour of the country’s new Renewable Expansion Law (EAG). The law sets a 100% renewable electricity consumption goal by 2030 for Austria – up from 75% right now. For this to become a reality, Austria will need an additional 27 TWh in electricity generation. And 10 TWh of this will have to come from new wind energy capacity. This translates into more than 500 MW of new capacity each year between now and 2030. The EAG also introduces a new market premium system. The premium will be paid on top of a monthly average of the wind power market value. Tenders currently do not lead to optimal results in Austria due to the smaller size of the market. The premium will be determined administratively. If market conditions change then tenders could be implemented in 2024.
Reve 23rd July 2021 read more »