Czech govt plans to earmark EUR 468mn to limit electricity price hike in 2012.

By bne IntelliNews October 24, 2011
The Czech government plans to allocate CZK 11.7bn (EUR 468mn) to offset an expected increase of electricity prices due to a solar boom, CTK newswire reported. Thus the electricity price will increase by 4.3% for households and by 6% for businesses, well below the expected 11% for households and 15% for businesses without the state subsidies. The governments support for renewable energy in 2011 also stood at CZK 11.7bn, as part of it came from a 26% withholding tax on solar energy and from a 32% tax on carbon emissions permits granted in 2011 and 2012. The operation and maintenance of solar power plants in the country will cost over CZK 22bn next year. The installed output of new solar plants in the Czech Republic was the third highest in the EU in 2010, according to data from the European PhotoVoltaic Industry Association (EPIA). The Czech Republic added 1,820MW of solar photovoltaic power (PV) installations to its grid last year and became the fourth largest EU country in terms of installed PV capacity.

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