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Parliament Approves Budget for Renewable Energy and Energy Saving Fund with Criticism

Published March 19, 2026, 20:11
Parliament Approves Budget for Renewable Energy and Energy Saving Fund with Criticism

Parliament unanimously approved the budget of the Renewable Energy and Energy Saving Fund for 2026, amounting to €77.36 million. The main expenditures concern grants for RES and energy saving projects (€34.1 million), payments for existing plans (€20.6 million) and support for vulnerable consumers (€21 million). Revenues are estimated at €33.4 million, with the deficit covered by reserves. During the discussion, AKEL criticized the budget reduction compared to the previous year and the non-return of revenues from electricity surcharges to consumers. The gap created by the expiration of the net metering framework was also highlighted, along with the need for its reinstatement. DISY characterized the Fund as deficit-ridden and argued that the promotion of RES is hindered by vested interests, while emphasizing the need to strengthen energy storage.