NewsTHE GOVERNMENT WILL PRESENT IN AUGUST A STRATEGY OF ECONOMIC INSTRUMENTS TO SUPPORT ENERGY TRANSITION

Julio 20, 2021

Based on the national green hydrogen policy, a group of experts was convened in April and workshops with various stakeholders have already begun.

 

Rodolfo Menanteaux C.

 

Economic Aspects

 

In order to achieve carbon neutrality by 2050, one of the challenges is the need to evaluate different economic instruments -such as green taxes- that allow accelerating the competitiveness of clean fuels, considering environmental externalities. In this sense, one of the commitments was to establish a technical dialogue to discuss a roadmap for a carbon price that reflects the externalities of fossil fuels.

 

Regarding the national green hydrogen strategy, it was defined that one of the issues at stake are the barriers and enablers of the industry, focusing the debate with experts in this direction.

 

The government confirms that, in April, the Minister of Energy, Juan Carlos Jobet, convened a group of experts to review green taxes, among these experts were the Consultores Clapes UC and the Energy Center who presented the methodological aspects of the analyzes they are developing, where they intend to evaluate the effects on productivity and growth of different scenarios of green taxes and other instruments.

 

According to sources, in the instance the ministry presented the antecedents of the process that should end with the publication of this strategy.

 

Legal aspects

 

It is contemplated to promulgate a bill to establish quotas for use in gas networks and a safety regulation, among other actions.

 

The Fuels and New Energy Division of the Ministry of Energy said that this year they seek to have the general regulations for hydrogen facilities ready, enter a green hydrogen bill in Congress to establish used quotas in gas networks and send to the Controller (Contraloría) a security regulation of this same element to establish standards. Likewise, it has been pointed out that they are working “very hard on regulation” and “much faster than what is normally taken to carry out a regulation.

 

In addition to reducing regulatory uncertainties, the objective is to work on financing and incentives. Along these lines, they will develop -among other initiatives- a public-private investment fund in green hydrogen to start the growth of the industry, and in this way, get to compete with countries like Australia that have strong subsidies in this type of matters.

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