The RES special account’s ability to remain in surplus territory in 2023 will depend on the overall impact of measures decided by the energy ministry, including the prospect of a 200 million-euro injection from EU recovery-fund money, according to a related conducted study by Swedish-Finnish consulting giant Afry.

Greece’s energy ministry has just published the study’s findings.

The RES special account’s financial standing will begin improving in 2024, even without the 200 million euros in recovery-fund support, and, year by year, will experience a gradual surplus increase, the Afry study projects.

As for the three-year period between 2021 and 2023, the study has forecast marginal surplus figures, at best, of between 60 and 150 million euros.

The prospects, for this period, will not only depend on the outcome of an application for recovery-fund support for the RES special account but also on the effectiveness of other ministry measures, the Afry study points out.

Besides the possibility of no recovery-fund money for the RES special account, the report also lists the prospect of far fewer carbon emission rights for Greece as another threat.

Other market shocks, such as delayed economic recovery due to coronavirus vaccination program setbacks, as well slower development of the Crete-Athens grid interconnection project, could also result in RES special account deficits, the report warns.