New bill on renewable energy sources
After nearly four years of legislative work on new regulations concerning renewable energy sources (RESs), the government approved its bill on renewable energy sources (as published on 4 April 2014) on 8 April 2014 (hereinafter the ‘OZE Bill’). The OZE Bill, in the wording approved by the Council of Ministers, will now be submitted to the lower chamber of the Polish parliament for approval (Sejm). Once it passes the lower chamber, the bill shall be put before the upper chamber, the Senate, which may propose amendments or reject or accept it. In the event of its amendment or rejection by the Senate, the OZE Bill will be returned to the lower house for reconsideration; Sejm may uphold or reject the Senate’s recommendations, but once it does so it will send the bill to the president for his signature and hence enactment. The European Commission will also have to be notified about this piece of legislation because it introduces state aid measures into the RES support system.
The solutions proposed in the OZE Bill coincide in many respects with its previous version. In particular, the auction mechanism has been kept and the possibility to choose between the auction system and the system of certificates of origin for existing installations.
The fundamental rules of the OZE Bill are briefly described in this briefing. At the same time, it needs to be noted that at the stage of legislative work, the OZE Bill may be substantially revised. Consequently, we cannot rule out that the final version of the OZE Act will materially differ from the wording of the OZE Bill approved by the Council of Ministers…
Click on the link below to read the rest of the Dentons briefing.
News from Dentons
News from The Lawyer
Briefings from Dentons
The draft ‘Law on Amendments to the Tax Code of Ukraine and Some Other Legislative Acts of Ukraine’ was registered by the Verkhovna Rada of Ukraine on 22 July 2014.
On 16 July 2014, the US Treasury Department’s Office of Foreign Assets Control unveiled new Ukraine-related sanctions.
Analysis from The Lawyer
The continent’s boom in natural resources and renewable energy is sparking an infrastructure drive
Shearman & Sterling is making its presence felt in the City, squaring up to magic circle firms and looking to muscle in on key relationships. Private equity house Bridgepoint is one outfit that has had its head turned by the US firm.