16/12/2021 (Agence Europe) – On Thursday 16 December, the European Commission announced that, during the year 2021, the ‘Modernisation Fund’ has enabled eight EU Member States to invest in the modernisation of their energy systems for a total amount of €898.43 million. Funded by a percentage of revenues from the EU Emissions Trading System (ETS), the fund aims to support ten low-income Member States - whose GDP per capita at market prices was less than 60% of the EU average in 2013 - in their transition to climate neutrality. In its first year of operation, investments were confirmed in the Czech Republic (€320 million), Estonia (€24.59 million), Croatia (€2.15 million), Hungary (€34.28 million), Lithuania (€28 million), Poland (€346.40 million), Romania (€22.99 million) and Slovakia (€120 million). Bulgaria and Latvia had not submitted proposals to the Commission. (DG)