‼️BREAKING #Deal on REPowerEU: money will flow in 2023 towards new investments in energy infrastructure, efficiency and savings, as well as towards addressing energy poverty.
Countries will present their REPowerEU chapters to the COM for approval before receiving the money. 🧵
Countries will present their REPowerEU chapters to the COM for approval before receiving the money. 🧵
The money: REPowerEU chapters will be paid with 20 bn€ from: 40% frontloading ETS allowances, 10% from Stability Market Reserve and 50% from the Innovation Fund. Additionally, still available loans from the Recovery and Resilient Facility (225 bn€) can also be used.
Transparency: governments will need to publish a list of the top 100 recipients of the largest amounts of the recovery funds in the country. Citizens will finally know where the money is going!
Cross-border projects: at least 30% of total estimated cost of REPowerEU chapters should go to cross-border and multi-country projects. Although it is not a conditional target for the approval of the chapters, countries would need to provide a justification if they don't meet it.
Do-non-significant-harm principle holds for REPowerEU chapters. Exceptionally, governments could ask the Commission for a derogation from the DNSH for particular projects, under certain conditions and only until December 2026.
Great work by the EP negotiating team sticking together throughout very tough negotiations with Council and Commission #Deal #REPowerEU 
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