Energy-intensive industries eligible for compensation through a mechanism offsetting elevated energy costs have called for an upward revision concerning 2022 and 2023, warning that a current formula and rate, offering industry an 11 percent share of revenues generated at CO2 emission right auctions, would not suffice.

EVIKEN, the Association of Industrial Energy Consumers, has called for an increased share of at least 17 percent, so that deficits resulting from current rates can be avoided.

The compensation sum offered to energy-intensive industries for 2021 was based on total electricity consumption of eligible industries, including the refining sector, as well as the CO2 EUA (European Union Allowance) price of 24.8 euros per ton in the previous year, 2020.

Available data has indicated that the amount to be required for compensation in 2022 will be close to 200 million euros. However, an 11 percent share of CO2 emission right auctions in 2022 is estimated to produce a sum of 146 million euros, 54 million euros less than the required amount.

The deficit appears to be even more acute for compensation needs covering 2023. An EUA price of 81 euros per ton results in a sum of over 300 million euros, while an 11 percent share of CO2 emission right auctions results in a sum of 160 million euro, a 140 million-euro deficit for 2023.