Denmark: Finance Minister announces new green fund

Denmark's Finance Minister Nicolai Wammen has announced the creation of a new green fund worth DKK 53.50bn (EUR 7.19bn USD 7.59bn), which will be used to invest in renewable energy, the expansion of offshore wind energy and new green technologies including CCS and PtX in 2024-2040. The parties also agreed to reduce the electricity tax temporarily in the last quarter of 2022 and in 2023. The reduced electricity tax is expected to cost the Danish state DKK 475mn and is part of a wider deal which aims to compensate the public for increasing living costs. The tax is cut by DKK 0.04 per kWh.