Poland received approval from the European Commission today to grant 40bn zlotys (?9.4bn) in state aid to utilities that generate power from renewable sources. Renewables producers will be selected through competitive auctions under the scheme and awarded subsidies either in the form of a premium to the market price or as feed-in tariffs. Under the scheme, producers with capacity greater than 0.5MW will receive a premium to the wholesale power price, designed to encourage them to respond to market signals. The premium will be awarded only if, in the coming years, the wholesale price remains below the winning bid submitted by the producer. This ensures that the funds are not used to subsidise projects that would have been competitive anyway.
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