Filenews 9 December 2021 - by Eleftheria Paizanos
Electricity bills may have hit red (due to expensive pollutants), but the state is seeing its revenues increase from the auctioning of greenhouse gas emission allowances.
The Republic of Cyprus, through its greenhouse gas emission allowance trading scheme, has been auctioning greenhouse gas emission allowances since 2012. From then until October 19, 2021, an amount of €161.8 million has been reached in the fixed fund of the Republic. From 2012 to 2020, an amount of €101.8 million was entered into the state coffers, while until October this year, the state received another €60.3 million, with estimates bringing it to €100 million by the end of the year.
The large increase for 2021 is due to the termination of the right that the Republic of Cyprus had to provide free of charge to the EAC a part of its carbon dioxide emission allowances, but also to the sharp increase, this year, in the price per tonne of emissions. The Minister of Agriculture, Costas Kadis, in response to a letter sent to him by the Chairman of the Parliamentary Committee on Trade and DISY MP Kyriakos Hatzigiannis, lists the revenues that the state has had over the last nine years. Last year the net revenue of the Republic was €39.5 million. and this year until October it was €60.3 million. In previous years the amounts were much smaller.
