The energy ministry’s plan to further reduce the RES-supporting supplier surcharge in 2018, for an overall reduction of at least 50 percent following an initial 35 percent drop, does not appear possible and will most likely be delayed until early next year, latest RES special account calculations have indicated.

Given the data made available for the RES special account, its surplus is estimated to be between 100 and 150 million euros. LAGIE, the Electricity Market Operator, is expected to produce a more precise figure over the next month.

The RES special account’s balance requires, according to law, the maintenance of a 70 million-euro safety net. A decision was reached by authorities to return approximately 100 million euros to the main power utility PPC for a retroactive amount concerning 2014 following an assessment of RES-supporting ETMEAR surcharges paid by consumers. It is believed the power utility may also receive additional retroactive ETMEAR sums for two more years, 2012 and 2016. This would increase the difficulty of proceeding with a further supplier surcharge decrease this year.

The 35 percent supplier surcharge reduction already offered to suppliers is worth approximately 90 million euros.

According to sources, the European Commission’s Directorate General for Energy has shown understanding for the need for more RES special account calculations and will not push for a further supplier surcharge reduction in the immediate future.

The country’s independent suppliers have met with reservation the decision for retroactive ETMEAR-related returns to PPC, which has deprived them of a further supplier surcharge reduction.

Greek authorities believe that, as things currently stand, a further supplier surcharge reduction this year would not constitute a safe move for the RES special account surplus. If Brussels accepts the need for further ETMEAR calculations concerning 2012 and 2016, then the finalized RES special account balance and decisions will need to be made early in 2019.