State energy companies to pay €1 bln for pollution rights

“Companies managed by the Economy and Finance Ministry alone will have to acquire an extra 35.5 million certificates for 2008-2012,” government sources told Business Standard. A certificate is worth some €30.

Purchasing the 33.5 million certificates will have an impact on energy production costs, the sources indicated. A government document quoted by the Mediafax newswire states that lowering gas emissions will lead to higher heating bills unbearable for 50 percent of the population, the laying off of some 20,000 employees in the energy sector, and will compel local companies to spend up to €1.9 bln annually.