The implementation of a new EU directive for the RES sector promises to bring about many changes to the net metering framework, which, amongst other things, will offer incentives for maximum concurrence, or direct consumption of the greatest possible quantities of RES-generated electricity.
Overall, the directive, which needs to be incorporated into Greek law by June, 2021, will introduce tougher regulations, require the sale of excess energy quantities and offer reduced offsetting time periods.
As net metering represents a form of energy storage, beyond the power meter, the new framework’s preparations have been handed to a committee formed by the energy ministry to put together a legal and regulatory framework for energy storage units.
The new net metering formula will remunerate RES energy that is injected into the grid network for not being instantly consumed. This remuneration amount will need to reflect production value. As a result, officials are considering to base these remuneration calculations on the day-ahead market price.
The resulting net-metering balance will be based on the value of production and consumption, a completely different approach to the current system, for which offsetting is based on the quantities of electricity that have been produced and consumed.