RES unit tariffs need to be adjusted annually in accordance with inflation rate changes, Stelios Loumakis, president of SPEF, the Hellenic Association of Photovoltaic Energy Producers, has told the European Commission’s Directorate-General for Energy Ditte Juul-Joergensen, who held a meeting with key domestic market players as part of her visit to Greece to take part in the ongoing Delphi Economic Forum.

A system annually adjusting guaranteed RES tariffs needs to be applied to projects from 2016 onwards, as a percentage of annual inflation, as was the case up until 2014, the SPEF chief pointed out.

This need has arisen as a result of drastically increased interest rates on loans and project development costs, as well as the impact of higher inflation, Loumakis noted.

The SPEF official also noted that power grid operator IPTO must pause issuing new RES connection offers until grid energy storage installations have commenced. RES connection offers need to be issued proportionately with the development of energy storage unit installations, Loumakis added.

To date, IPTO has issued RES connection terms totaling 25 GW, including projects already in operation, a level that already meets the country’s goal for 2030.

Loumakis also called for the removal of a cap on the remuneration of RES producers, noting its level of 85 euros per MWh, under current market conditions, is depriving the Energy Transition Fund of cash inflow.