Latest data collected by authorities to determine windfall earnings gained by electricity suppliers between August, 2022 and the end of 2023, the period during which energy-crisis measures were implemented, have confirmed an earlier projection of roughly 250 million euros.

RAAEY, the Regulatory Authority for Waste, Energy and Water, had conducted its windfall earnings calculations in February, informed the energy ministry of its results.

However, distribution network operator DEDDIE/HEDNO still needed to determine and factor in a normalization coefficient before this sum could be confirmed.

The normalization coefficient is designed to adjust megawatt-hours suppliers are charged monthly – based on their declarations submitted to the Energy Exchange – with actual megawatt-hours they have used.

Now that the coefficient has been finalized, the energy ministry can issue a ministerial decision, expected within the next few days, to validate the windfall earnings sum and proceed with its recovery from electricity suppliers.

As previously reported by energypress, virtually all windfall earnings will go towards partially covering amounts owed by municipal water supply and sewerage companies (DEYA) to power utility PPC.