The government’s rising amount of electricity bill subsidies offered to households to help counter the sharp increase in energy prices is prompting a decrease in the level of CO2 emission right auction revenues made available for the RES special account, remunerating renewable energy producers.
Revisions have been made to a recent ministerial decision in order to secure funds for electricity bill subsidies worth 39 euros per month, energypress sources informed.
Under the latest terms, 70 percent of CO2 emission right auction revenues, or approximately 700 million euros, will be injected into the Energy Transition Fund, supporting the subsidy effort, while just 7 percent, or 70 million euros, will go to the RES special account.
The decision to restrict the RES special account’s share of CO2 emission right auction revenues to 7 percent was taken by the energy ministry once DAPEEP, the RES market operator, confirmed the RES special account’s surplus figures, prompted by far higher wholesale prices and increased CO2 emission right prices.
A year earlier, the RES special account was receiving 75 percent of CO2 emission right auction revenues, a level exceeding a 60 percent minimum that was required by law.