A new energy ministry proposal seeking 202 million euros in financial support for the RES special account through the EU’s Recovery and Resilience Facility entails the establishment of two such accounts, one covering existing projects connected up until the end of 2020, the other, new projects linked as of 2021.
The existing RES account, facing deficit pressure, would continue remunerating projects connected up until the end of last year, sparing it of the responsibility of financially supporting new projects, while the new RES account would be the exclusive beneficiary of the 202 million-euro RRF injection, according to the plan.
All existing RES account support tools, such as the ETMEAR surcharge included in electricity bills, would continue being injected into the old RES special account, the plan envisages.
The ministry’s split plan appears to stem from the fact that RRF support for the sake of merely covering the existing RES special account’s deficit would not be permitted by the European Commission, whereas, on the contrary, resorting to the RRF to facilitate the RES sector’s further penetration of the energy mx is seen as feasible.
Besides the 202 million-euro RRF injection, the new RES special account for new projects would also benefit from funds generated by the day-ahead market, according to the plan. The introduction of a new surcharge for this account cannot be ruled out.
Renewable energy market players have expressed unease about the plan’s ability to keep both RES special accounts balanced, crucial for the sustainability of old and new investments.