The energy ministry is seeking ways to boost earnings for the RES special account as it is feared that a 110 million-euro deficit projection for the end of 2020, made by DAPEEP, the RES market operator, could be worse, driven down by unfavorable market conditions, including lower System Marginal Prices, or wholesale electricity prices.

DAPEEP’s calculations for its projection are based on a presumed average SMP level of 47 euros per Mwh, well above current levels.

Also, CO2 emission right costs, set at 20 euros for the operator’s calculations, are also believed to be overpriced.

The reduction in electricity demand as a result of the pandemic is another important factor that could prove wrong DAPEEP’s end-of-year deficit projection.

All of these factors heavily influence the RES special account’s earnings.

Deputy energy minister Gerassimos Thomas has requested a study accurately depicting current data and projections for the RES special account. Its outcome will be used to help shape measures in a bid to avoid payment delays to RES producers, a recurring problem that has troubled the sector.

RES investment interest is currently high and the government hopes even greater capital amounts may be injected into renewable energy projects.

“The sustainability of the RES special account is an energy ministry priority and we will take all necessary measures to ensure this is so,” Thomas, the deputy minister, recently noted.