The European Commission, in its fourth enhanced surveillance report on Greece, just released, has raised concerns over the RES special account’s sustainability, noting it could be negatively impacted by the lowering – without a replacement – of an ETMEAR surcharge included in electricity bills and serving as the main revenue stream for renewable energy producers.

Simplification of RES licensing procedures, pledged by the government, and reforms in Greece’s Spatial Plan will be crucial from here on for green energy investments, the reported reminded.

Earlier this week, deputy energy minister Gerassimos Thomas assured the RES special account will end 2019 in surplus territory of 50 million euros, plus a required emergency reserve of 70 million euros

The Brussels report underlines the importance of green energy investments for Greece’s energy future. Green energy currently holds a 25-30 percent share of the country’s monthly energy generation mix, close to the European average, the report noted.

Greece’s total installed capacity has reached just under 17 GW, of which 3 GW is represented by wind energy and 2.5 GW by solar energy units, big and small.

A solar energy capacity of 143 MW, at 62.77 euros per MWh, and a wind energy capacity of 187 MW, at 67.31 euros per MWh, resulted from July’s RES auction, the report noted.

Administrative issues, such as the issuing of fees for production licenses that have to be paid during project delays that are not the fault of RES producers, are harmful to investment in RES projects, the report stated.

Enhanced surveillance provides a comprehensive framework for monitoring economic developments and the pursuit of policies needed to ensure a sustainable economic recovery in Greece.