Common benefit charge for electricity announced

RAE, the Regulatory Authority for Energy, has set the amount to be covered by electricity consumers through the annual Common Benefit Services charge at close to 800 million euro, it announced today, confirming a recent report by EnergyPress. The charge covers the cost of providing electricity to islands not connected to the country’s main power infrastructure, as well as cheaper rates for various underprivileged social groups and large families, based on the Social Residential Tariff (KTO).

More specifically, the authority announced that the common benefits charge, covering the period for 2012, would be 783,974,664.64 euro, while the amount for 2013 has been set at 771,200,755.56 euro.

The amount approved by RAE for the Public Power Corporation’s (PPC) cost of supporting large families was set at 11,480,000 euro for 2012 and 10,900,000 for 2013, the energy authority announced.

The authority noted that it had approved 15,092,094 euro in 2012 and 33,633,251 euro in 2013 for PPC’s Common Benefit Services charge concerning the Social Residential Tariff. Amounts of 709 euro, covering 2012, and 1,905, euro covering 2013, had been approved for the electricity supplier Watt & Volt, the authority announced. A 1,493 amount, covering 2013, was approved for Elpedison, RAE added.

The coalition government will now need to ratify legislation in Parliament for these amounts to take effect, beginning July.