A supplier surcharge imposed last year to support the RES special account will need to be reduced by this coming March, in accordance with the account’s surplus forecast, and abolished by the end of 2018, according to revised bailout terms.
A plan leading to the abolishment of the supplier surcharge by the end of next year will need to include an alternative way of securing necessary funds for the RES special account.
The revised bailout terms also call for settlement of all pending amounts concerning the RES special account.
The main power utility PPC is owed 42.2 million euros, via IPTO, the power grid operator, for 2015, from another RES-supporting surcharge, ETMEAR, included on electricity bills. Settlement of ETMEAR amounts concerning 2012 to 2016 is also needed. According to energypress sources, the total value of these older amounts is approximately 100 million euros.
According to a latest market report released by LAGIE, the Electricity Market Operator, the RES special account surplus for 2018 has been forecast to reach 237 milllion euros, assuming no ETMEAR revisions are made. Deducting the aforementioned 100 million euros in pending transactions would decrease this surplus forecast to 137 million euros.
The supplier surcharge has been designed to deliver approxaimately 375 million euros, annually, to the RES special account.