Five electricity suppliers have been handed fines by RAE, the Regulatory Authority for Energy, for outstanding debt to market operators totaling 347 million euros, energypress sources have informed.
The RAE board, which was preoccupied with the matter over at least three sessions, reached its decision at a crucial time amid the energy crisis, challenging the sustainability of energy companies.
Power utility PPC, the market’s dominant supplier, is believed to be among the five suppliers handed fines, along with four smaller players.
The five suppliers have agreed to letters of guarantee representing 50 percent of their debts owed to the operators and installment payment programs for settlement of remaining amounts over periods ranging from 8 to 10 months, sources noted.
RAE is expected to reexamine the progress of these payments in December, 2022.
Despite handing out fines, RAE is believed to be extremely concerned about the sustainability of energy suppliers, especially smaller players.