The Czech Press Agency ÄŒTK reported on 15 March 2011 that the Czech Constitutional Court officially confirmed the receipt of the Complaint against the amendment of the renewable energy law 180/2005 previously signed by 22 senators from various political parties (see also EBI report 16/2011). The amendment introduced a 26% tax on the revenues generated by photovoltaic power plants connected in 2009 and 2011 for the years 2011-13 and additionally affected some other areas such as CO2 emission allowances and the removal of a six-year tax holiday for renewable energy production. The Constitutional Court's spokesperson reiterated that processing the Complaint will most likely take several months.

The management of Photon Energy sees this development as positive but must stress that relief in the form of repealing this discriminatory retroactive legislation still remains uncertain and at least several months away. The rule of law in the Czech Republic has been given a last chance.

Legal basis: § 3 ust.2 point no.2 of the Appendix 3 to Resolution No. 733/2009 of the Warsaw Stock Exchange Management Board dated 18 December 2009 "Current and Periodical Information in the Alternative Trading System"