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Energy Agreement Of 29 June 2018

Energy Agreement Of 29 June 2018

On 1 January 2018, the new revenue cap order of the Danish Electricity Supply Act introduced a new scheme to cap the revenues of electricity distribution system operators (DSOs). The new regime is fundamentally different from the current revenue ceiling, in which revenue ceilings were essentially based on revenue per kWh delivered for the 2004 regulatory year, subject to inflows and outflows. Under the new regime, revenue ceilings will be set in principle to cover (i) the DSO`s costs related to the efficient operation of licensed activities and (ii) the return on investment. In this context, the turnover ceiling represents the maximum turnover that a DSO can achieve during licensed activities in a calendar year, including energy-saving activities. Turnover ceilings are still set each year by the Danish single regulator (MAJEUR), but now on the basis of a five-year turnover ceiling. The revenue caps are essentially: “A unified Parliament has reached a broad and ambitious energy agreement that places Denmark in the group of countries that now have plans to develop green energy by 2030. The energy agreement includes the following initiatives: the energy agreement contains a wide range of ambitious green initiatives and a relaxation of electricity taxes that will help Danish consumers replace fossil fuels with green electricity. Similarly, by modernizing the heat sector, businesses and consumers will benefit from more advantageous heat. In addition to Executive Order No.

425, the NIS Directive was adopted by Executive Order No. 425. 424 of April 2018 concerning precautionary measures in the oil sector, which apply to undertakings required by the Danish Oil Prevention Act to hold an oil stock. Executive Order No. 424 contains, like Executive Order No. 425 for the electricity and gas sector, commitments to implement security measures for computer systems essential to the supply of oil. The NIS Directive (on measures to ensure a high common level of security of network and information systems across the Union) entered into force in 2016. EU Member States were required to transpose the Directive into their national legislation by 9 May 2018 and to identify operators of essential services by 9 November 2018. “The agreement contains many of the initiatives that the wind turbine industry has been looking for, and DWIA therefore welcomes this agreement.” The first agreed step was to lay the foundations for up to 55% of Danish energy consumption to be based on renewable energy by 2030. According to the agreement, this goal is expected to be achieved through the creation of three new offshore wind farms by 2030. The main elements of the agreement are the commitment to build three major new offshore wind farms, new funds for onshore wind and solar energy, targeted efforts to achieve energy savings as well as a targeted strengthening of energy and climate research.

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