A RES-supporting ETMEAR surcharge imposed on electricity supply companies and revised weekly remained at a digestible level during the fourth week of November, at 5.5 euros per MWh.
This level lies within the limit that may be handled by electricity suppliers, according to a study conducted by the Aristotle University of Thessaloniki. RAE, the Regulatory Authority for Energy, and the energy ministry rely on this university study for decisions.
The revision, which has increased electricity supplier contributions to the renewable energy (RES) special account, was introduced last summer to help eliminate the RES special account’s persisting deficit that threatened to devastate the energy market or lead to excessive surcharges for consumers through the ETMEAR surcharge included on electricity bills.
In recent weeks, electricity suppliers reacted as they were unnerved by a sharp surcharge increase during the first two weeks of November.
The surcharge averaged 4.4 euros per MWh in October but shot up to around 12 euros per MWh during the first two weeks of November before falling to 3.4 euros per MWh in the third week and then reaching 5.5 euros per MWh in the fourth week.
Experts with a full understanding of this specific market mechanism pointed out that the average price level, not weekly price levels, should be the focus of concern.
According to the Aristotle University of Thessaloniki study, electricity suppliers can handle an annual average level of up to 6.5 euros per MWh. Since its introduction last summer, the surcharge has run at an average of 6.3 euros per MWh.