Payment delay concerns affecting renewable energy producers in Greece have eased over the past month and a half following the commitment by the main power utility PPC to inject into the RES special account 260 million euros from 620 million euros linked to the split of IPTO, the power grid operator, from PPC, as a means of settling a portion of arrears owed to the country’s RES producers.
In the lead-up, RES producers have applied pressure on PPC to channel IPTO-related money into the RES special account.
This move has reduced the average number of days of RES production owed to producers to 130 from 190. If payment for RES production concerning the month of February commences at the end of this week, as is anticipated, then this average figure is expected to fall further, to 120 days, a level demanded, as a first objective, by two photovoltaic producer associations, SPEF and PSAF, in meetings with energy ministry officials in March.
PPC has attributed its payment delays to its unpaid receivables, which are believed to have reached a level of 2.5 billion euros, highlighting the struggle faced by numerous consumers to meet electricity bill payments amid the recession.
However, critics, including PSAF officials, have contended that PPC’s unpaid receivables figure ought to have reached a level of between 5 and 6 billion euros in order to justify the utility’s delayed payments to RES producers.
Besides meeting with energy ministry officials, the two aforementioned PV associations have also resorted to legal action against PPC.