Dismay after EU rejects ‘Green Pool’ for industrial energy users in Greece
(EurActiv, 11 Oct 2023) The European Commission has rejected the Greek government’s plans for large industrial consumers of electricity like aluminium or chemicals to pool demand for renewable power as a way of lowering their operating costs, causing dismay in the metal industry.
The Green Pool scheme was initially floated by the Greek government in July 2022 as part of moves to lower the cost of electricity, which went through the roof last year after Russia invaded Ukraine.
It was designed to help large industrial consumers of electricity like aluminium, steel, glass, or cement, to jointly sign up to corporate power purchasing agreements (PPAs) for renewable electricity, under the supervision of a public body acting as a single buyer and seller for participating companies.
The scheme was aimed at mitigating the costs of re-shaping industrial production to match the variable nature of renewable electricity generation coming from wind and solar power installations – so-called firming or shaping costs.
These costs were identified by the European Commission as a key obstacle preventing industrial consumers of electricity from signing up to Renewable Energy Power Purchase Agreements (PPAs), which Brussels is now promoting as part of its proposed electricity market reform.