Volume of renewable energy resources to reach 6% by 2010

In 2010, the production of energy from renewable energy resources will reach 6% of the total volume of energy produced by traditional resources. This forecast is mentioned in the draft law on renewable energy passed Thursday, July 12, by the Parliament in second reading. The draft foresees that in 2010, the volume of bioethanol blended with petrol will represent 6% of the total volume of petrol sales. In addition, the volume of biodiesel blended with diesel oil will constitute 5% of the volume of diesel oil sales. In 2020 the volume of bioethanol blended with petrol and that of biodiesel blended with diesel oil will constitute a total of 20% of diesel oil and petrol sales. The tariffs for renewable petrol will be calculated in such a way as to compensate for investments made for a 15-year period, but based on the assumption that the prescribed profitability rate will not exceed more than two times the corresponding traditional energy rate. Moreover, the draft plans the development of a Fund for energy efficiency which will manage the financial resources for the purpose to finance activities in the field of energy efficiency and to capitalise renewable energy resources. Starting 2008, the Government will put forward proposals with regards to the State Budget draft law to stimulate and support the process which will render profitable renewable energy resources.