France Lowers Green Eligible Expenditures for 2022

By Emese Bartha

France lowered the amount of green eligible expenditures to which the country's 2022 green bond issues will be matched to 10 billion euros ($10 billion) for 2022, from an initially announced amount of EUR15 billion, the French Treasury Agency, or AFT, said Tuesday.

"The increase in energy prices increases the valuation of renewable energies on the wholesale electricity or gas markets," AFT said.

"Their valuation now exceeds the level of the feed-in tariff for these installations," it said, adding that this tariff is therefore unlikely to be subsidised in 2022.

The envelope of green eligible expenditures for green government bonds, or green OATs, of which subsidies for renewable energies are part, is revised downwards to EUR10 billion, it said.

So far, EUR9.4 billion of green eligible expenditures have already been financed by green OATs in 2022, AFT said.

Write to Emese Bartha at [e-mail]

(END) Dow Jones Newswires

08-30-22 1322ET