Studies in Policy Choices and Interactions
Critical Issues in Environmental Taxation series
Edited by Larry Kreiser, Mikael S. Andersen, Birgitte E. Olsen, Stefan Speck, Janet E. Milne and Hope Ashiabor
Chapter 5: European renewable energy market governance and economic crisis: a taxation makeover with Greece as a case study
With the background of climate change urgently calling for a shift to green energy, it is up to strategic planning to be adapted to allow alternative energy sources to pave the way for a new industrial revolution based on sustainability. The increased regulatory activity for the establishment of an internal European energy market may contribute to the implementation of a coherent energy strategy. However, the measures adopted by Member States on a national level have often been proved inadequate when responding to the common challenges set by EU energy policy, indicating the need for an interpretation of public policies and adjustment to the energy status quo of each Member State. The focus of this chapter is set on the renewable energy sources (RES) regulatory measures enacted at year end 2012 and regularly amended within the last two years in Greece, at times of a profound economic crisis, as well as within the context of putting effort into reaching the aftermath of recession. The main objective of this study is the assessment of the day ahead after the implementation of a framework including retroactive taxation measures, suspension of new photovoltaic projects, a so-called ‘special solidarity levy’ as an emergency tax imposed on the turnover of RES producers, a drastic reduction of feed-in tariffs (FIT), as well as a unilateral non-negotiated change of the contractual terms for operational RES projects.
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