Law L3468/2006 on the Generation of electricity from renewable energy sources and through high-efficiency co-generation of electricity and heat and miscellaneous provisions

In addition to transposing to the national level the EU directive on the promotion of electricity produced from renewable energy sources in the internal electricity market, this legislation aims to promote the generation of electrical power from renewable energy sources (RES) and high-efficiency co-generation of electricity and heat plants in the internal electricity market. It details the pricing of electricity produced from RES, introducing technology specific tariffs, higher tariffs for small PV units and offshore wind, and higher tariffs for energy produced by RES units operating in the non-interconnected islands. It also defines the authorities for the co-ordination and promotion of investments in the sectors of RES and high-efficiency cogeneration.

The Law also calls for yearly revision of the feed-in tariffs set by the law through a decision by the Minister of Development. The revision is to be determined on the basis of the weighted average increase of the dominant utility's (PPC) electricity rates, before a full liberalisation of the electricity market is achieved.

It also introduces a regime of strict follow-up procedures for the holders of electricity generation licenses, in order to keep them bound to their legal commitments and provisions, and suppress profiteering from license trading. The law further imposes mandatory measurements of RES potential by a certified body before a RES generation license can be issued.