The RES special account’s surplus forecast by renewable energy market operator DAPEEP for 2018 appears to be greater than an amount projected by the operator in its most recent report, published in October.
The operator had forecast a RES special account surplus of 134 million euros for the end of 2018, following a deduction of 70 million euros as a safety net, which is required by law in order to secure payments for producers, but an additional 20 million euros accumulated by November’s inflow into the RES special account promises to increase its surplus figure to around 155 million euros.
The RES special account surplus increase can be primarily attributed to greater inflow generated by an elevated System Marginal Price (SMP) and higher CO2 emission right levels.
Electricity suppliers, key contributors to the RES special account through supplier surcharge payments, are anticipating to be paid back the account’s surplus amount, as promised and legislated by the government.
The increased RES account surplus also provides potential for a reduction in 2019 of the RES-supporting ETMEAR surcharge paid by consumers through electricity bills. To be decided by RAE, the Regulatory Authority for Energy, such a development would prove favorable for the government given the fact that this is an election year.