Pending revision stopping supplier surcharge returns

A decision by the energy ministry to return a supplier surcharge amount worth approximately 120 million euros to electricity suppliers as a result of a RES special account surplus in 2018 has yet to be executed because a legislative revision needed following a RES market operator name change from LAGIE to DAPEEP has yet to drafted and ratified.

These surcharge returns to suppliers are not expected to happen any time soon and will most certainly not be incorporated into first-half financial figures, according to sources.

As the dominant electricity retailer, the main power utility PPC expects to receive the bulk of this total, estimated at 100 million euros.

A law enabling the surcharge return to suppliers was ratified before the name change at the RES market operator and does not include its new title as DAPEEP.

RAE, the Regulatory Authority for Energy, has refused to take any steps unless this complication is resolved.

The surcharge returns to be returned to suppliers for 2018 total 121.12 million euros following the deduction of a 70 million-euro safety reserve required by law.

Calculations also still need to be made concerning pending smaller amounts of previous years.

The overall delay has further unsettled RES producers, experiencing increased payment delays for their output since last summer.