The energy ministry is preparing legal texts concerning a series of structural and collection measures it announced last Friday to protect the sustainability of the RES special account, currently in deficit territory.

Many of these measures require legislative revisions in order to be implemented while others can be adopted as ministerial decisions.

Energy minister Costis Hatzidakis expects the legal texts for measures requiring legislative action to soon be in Parliament.

Two options are available for these texts. They could be attached to a draft bill on spatial matters concerning the RES sector, set to be submitted to Parliament by the energy ministry within the next few days.

However, the RES special account measures will most likely not be ready on time for attachment to this draft bill when it enters Parliament, but they could be still attached with some delay, during special committee and parliamentary discussions. If so, the RES special account measures should be ratified by early December.

A second option entails attaching these RES account measures to a separate energy draft bill that would be submitted to Parliament once the bill concerning spatial matters has been ratified. Though such a course cannot be ruled out, it is an unlikely prospect as the energy minister is determined to make swift progress on the measures aiming to rescue the RES special account.

The measures have caused widespread unrest in the sector. RES producers, who, according to the terms, would be subject to an extraordinary 6 percent tax imposed on electricity producer total revenues for 2020, have called for revisions.

Also, foreign RES investors are believed to be reexamining investment plans with their local subsidiaries.