Measures that would affect the RES special account’s cash inflow will not be implemented, but, on the contrary, account earnings will be boosted by increased takings from CO2 emission right auction revenues, highly ranked energy ministry officials have told energypress.
The officials offered this reassurance following an outcry by RES producers over a ministry intention to reduce a RES-supporting weighted variable cost for conventional thermal power plants.
The percentage to be withheld from CO2 emission right auction revenues for injection into the RES special account will be increased from the current level of 65 percent to 70 percent, the ministry sources noted.
This five percent increase will suffice to guarantee RES producers their payments for output despite an upcoming decrease of CO2 emission right quantities to be offered at auctions following a European Commission decision within the framework of the Market Stability Reserve, the ministry officials said. Greece stands to lose 4 million tons in CO2 rights.