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Government supports National Energy and Climate Plan for 2021-2030.

RIGA, Jan 28 (LETA) - The Cabinet of Ministers on Tuesday endorsed the National Energy and Climate Plan for 2021-2030, drafted by the Economics Ministry.

The plan will now be submitted to the European Commission. Implementation of the plan will be coordinated and monitored by the National Energy and Climate Council, chaired by the prime minister.

The National Energy and Climate Plan for 2021-2030 will be a key document for formulating long-term energy and climate policies of Latvia. The plan's main objective is to facilitate the development of a climate-neutral economy in a sustainable, competitive and secure manner.

The total funding needed for implementation of the plan is close to EUR 10 billion.

State and municipal budget financing will be needed for implementation of the plan, as well as co-financing from the European Union's structural funds and private capital.

One of the objectives of the Energy and Climate Plan is to make the tax system greener. The plan states that excise taxes on oil products and natural gas, natural resources tax on CO2 emissions, and vehicle operation tax can be used to regulate and influence consumption of energy resources.

One of the main measures to improve energy efficiency and promote renewable energy technologies, without increasing the tax burden, is to consider the possibility of revising property tax exemptions, the plan says.

The Energy and Climate Plan will also promote generation of wind and solar power. "The cost of generating electricity in offshore wind farms has dropped significantly and recent research has shown that it is the most inexpensive of all types of new technologies, including fossil fuel technologies, to generate electricity," the ministry added.

Other objectives of the plan include promoting efficient use of resources, ensuring a significant reduction in resource consumption, transition to sustainable, renewable and innovative resources, contributing to the development of a sustainable energy sector and climate change mitigation.

To achieve these objectives, the plan contains a list of 104 measures divided into 12 chapters. These include improving energy efficiency of buildings, promoting the use of non-emitting technologies in electricity generation, improving energy efficiency and promoting renewable energy technology in heating and cooling and in industry and transport, promoting energy self-generation and self-consumption.

The measures also include energy security and independence, full integration of energy markets, modernization of infrastructure, improvement of waste and wastewater management efficiency, and reduction of greenhouse gas emissions, improving efficient use of resources in agriculture, sustainable use of resources, reduction of greenhouse gases and CO2 emissions, and others.

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Date:Jan 28, 2020
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