RAE, the Regulatory Authority for Energy, carefully monitoring the energy market in an effort to offer protection against wider repercussions amid the extraordinary conditions, has requested weekly updates from all the country’s electricity suppliers on their unpaid receivables figures and relay of surcharge collections to distribution network operator DEDDIE/HEDNO and power grid operator IPTO, sources have informed.

Suppliers are now receiving letters carrying related instructions. RAE, in an unprecedented move, is requesting details on a variety of matters, which, besides unpaid receivables figures and payment delay periods, include requests for number of customers and energy amounts consumed as well as amounts received for electricity consumption and surcharges.

RAE will use the data collected to offer suppliers greater flexibility for payment of regulated charges. This is expected to include an extension of the current 30-day period to 60 days.

“Any such decision in the electricity market is difficult as it involves tens of millions of euros and has consequences. Therefore, decisions cannot be made without documentation and putting figures into context with actual market data,” a highly ranked RAE official told energypress. “From the data we collect from suppliers, we will see what the urgent needs are and then determine if further improvements are needed,” the official added.

The energy ministry, also considering the collection of data a necessary move, is coordinating its efforts with RAE.