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Factbox - Swiss energy law aims to boost renewables, ban new nuclear plants

Reuters  |  ZURICH 

ZURICH (Reuters) - votes on Sunday on a new law, titled "Strategy 2050," that includes billions of francs in subsidies to support new renewable supplies and efficiency, while banning new nuclear power plants.

Highlights of the are below:

* Aims to increase solar, wind, biomass and geothermal output from 2,831 gigawatt hours (GWh) now, or just 4.3 percent of generation, to 11,400 GWh by 2035.

* Bans new nuclear power plants ahead of the eventual phase out of Switzerland's five plants, with the first closing in 2019.

* Hikes charges on electricity users to raise 480 million francs a year to subsidise production from solar, wind, biomass, geothermal and water power.

* Provides 120 million francs ($122.21 million) a year to loss-making hydroelectric utilities to help them compete and another 60 million francs to subsidise new hydro plants or refurbish older ones.

* Offers 450 million francs a year, up from 300 million francs, to support a building efficiency initiative. Funds will be raised from an existing fossil fuels tax.

* Elevates renewables to "national interest" status, helping them overcome legal challenges over a project's environmental or aesthetic impact.

($1 = 0.9819 francs)

(Reporting by John Miller; Editing by Edmund Blair)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Factbox - Swiss energy law aims to boost renewables, ban new nuclear plants

ZURICH (Reuters) - Switzerland votes on Sunday on a new energy law, titled "Energy Strategy 2050," that includes billions of Swiss francs in subsidies to support new renewable supplies and energy efficiency, while banning new nuclear power plants.

ZURICH (Reuters) - votes on Sunday on a new law, titled "Strategy 2050," that includes billions of francs in subsidies to support new renewable supplies and efficiency, while banning new nuclear power plants.

Highlights of the are below:

* Aims to increase solar, wind, biomass and geothermal output from 2,831 gigawatt hours (GWh) now, or just 4.3 percent of generation, to 11,400 GWh by 2035.

* Bans new nuclear power plants ahead of the eventual phase out of Switzerland's five plants, with the first closing in 2019.

* Hikes charges on electricity users to raise 480 million francs a year to subsidise production from solar, wind, biomass, geothermal and water power.

* Provides 120 million francs ($122.21 million) a year to loss-making hydroelectric utilities to help them compete and another 60 million francs to subsidise new hydro plants or refurbish older ones.

* Offers 450 million francs a year, up from 300 million francs, to support a building efficiency initiative. Funds will be raised from an existing fossil fuels tax.

* Elevates renewables to "national interest" status, helping them overcome legal challenges over a project's environmental or aesthetic impact.

($1 = 0.9819 francs)

(Reporting by John Miller; Editing by Edmund Blair)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Factbox - Swiss energy law aims to boost renewables, ban new nuclear plants

ZURICH (Reuters) - votes on Sunday on a new law, titled "Strategy 2050," that includes billions of francs in subsidies to support new renewable supplies and efficiency, while banning new nuclear power plants.

Highlights of the are below:

* Aims to increase solar, wind, biomass and geothermal output from 2,831 gigawatt hours (GWh) now, or just 4.3 percent of generation, to 11,400 GWh by 2035.

* Bans new nuclear power plants ahead of the eventual phase out of Switzerland's five plants, with the first closing in 2019.

* Hikes charges on electricity users to raise 480 million francs a year to subsidise production from solar, wind, biomass, geothermal and water power.

* Provides 120 million francs ($122.21 million) a year to loss-making hydroelectric utilities to help them compete and another 60 million francs to subsidise new hydro plants or refurbish older ones.

* Offers 450 million francs a year, up from 300 million francs, to support a building efficiency initiative. Funds will be raised from an existing fossil fuels tax.

* Elevates renewables to "national interest" status, helping them overcome legal challenges over a project's environmental or aesthetic impact.

($1 = 0.9819 francs)

(Reporting by John Miller; Editing by Edmund Blair)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22