Despite the RES special account’s surplus, a backlog of unsettled clearances concerning RES-supporting ETMEAR surcharges paid by consumers is preventing authorities from reducing a supplier surcharge, imposed on suppliers for RES sector support.

In its latest report, electricity market operator DAPEEP, formerly known as LAGIE, posted a 104.25 million-euro surplus for the RES special account, based on June data, and forecast a 157.6 million-euro surplus by the end of the year.

If all RES special account payments and clearances had been settled, these surplus figures would have enabled authorities to reduce the supplier surcharge by a bigger amount than the 35 percent cut already agreed to and to be applied retroactively as of April 1.

The possibility of a further supplier surcharge cut was agreed to in the third and final bailout’s concluding fourth review as long as a RES special account safety net of 70 million euros was established.

RES special account clearances still need to be settled for the years 2012, 2013, 2016 and 2017. At this stage it remains unknown how these transactions will impact the RES special account’s balance.

A decision has already been reached by Greece and the country’s lenders for a supplier surcharge reduction of 50 percent in 2019. Taking this reduction into account, DAPEEP has projected a 210.89 million-euro surplus for the RES special account at the end of 2019.