CO2 emission right auction revenues injected into the RES special account, remunerating producers, will be reduced to between 30 and 32 percent of the total following a revision to a previous rule requiring an input share of at least 60 percent.
This change was prompted by the energy crisis and the government’s need to allot funds for support to energy consumers of all scales and suppliers.
Under the new rules, the energy ministry has been given authority to determine and set the percentage of CO2 emission right auction revenues to be injected into the RES special account. The ministry’s related ministerial decision, expected to halve the percentage, is expected today.
Despite this share reduction, energy ministry officials insist the CO2 emission right auction revenue amount to end up in the RES special account will not be affected as a result of the sharp rise in CO2 emission right prices.
Approximately 45 percent of CO2 emission right auction revenues, estimated to result in an amount of 470 million euros, is expected to be transferred into the Energy Transition Fund to help combat the energy crisis.
A sum of 327 million euros is expected to be utilized for electricity bill subsidies, 90 million euros for heating fuel subsidies, 30 million euros for electricity supply reconnection fees concerning low-income households, and 30 million for telethermal needs.