The RES special account ended May with a 67.32 million-euro deficit, according to a latest report from DAPEEP, the RES market operator. Taking into account a 70 million-euro reserve required by law takes the deficit to 137 million euros.

CO2 emission right revenues for the RES special account dropped to 17 million euros in May, from 23 million euros a month earlier, the report showed. 

The RES special account’s outflow remained virtually unchanged at 160 million euros, almost double its inflow.

DAPEEP has projected a RES special account deficit of 154 million euros at the end of 2020, or 224 million euros if the 70 million-euro safety reserve is included in the calculations.

The System Marginal Price, or wholesale price, in May was 34.28 euros per MWh, following levels of 28.51 euros per MWh in April and 43.65 euros per MWh in March.

The SMP in the second half of 2020 is estimated to average 45 euros per MWh, compared to an average of 47 euros per MWh projected for the entire year, according to the DAPEEP report.

The operator has forecast a CO2 emissions right price average of 25 euros per ton for the second half and an average of 20 euros per ton for the entire year.

RES installations throughout the country have reached 7,326 MW, while RES output prices are averaging 156 euros per MWh, the DAPEEP report noted.