Renewable energy producers fear existing payment delays for their output will deteriorate, identifying the negative impact on the RES special account’s finances caused by increased balancing market costs since the November launch of the target model’s new markets as a key factor.
Though the RES market operator DAPEEP, managing the RES special account, has begun making payments for renewable energy production invoiced in October, producers believe the operator’s payment ability has weakened.
In recent times, DAPEEP has come close to vanishing any payment delays to RES producers.
As reported yesterday by energypress, the RES special account has been hit by discrepancy costs averaging 11 euros per MWh represented by DAPEEP between November 1, when the target model’s new wholesale electricity markets were launched, and January 3.
Adding further strain to the RES special account’s financial standing, the energy exchange is not staging auctions this month for the sale of CO2 emission rights as a result of platform maintenance work. Consequently, the RES special account will be deprived of approximately 40 million euros in January, the level of monthly cash inflow usually generated by these auctions.
The amount owed to DAPEEP’s RES special account by power utility PPC, a key barometer of the account’s condition, is currently at 240 million euros.
Despite the unfavorable conditions, DAPEEP’s administration appears determined to prevent any widening of its payment delays to RES producers. The operator is currently engaged in negotiations with Greek banks for a loan agreement that would improve its cash flow and facilitate payments to producers.
It remains uncertain if Brussels will approve an energy ministry request for RES special account emergency support through the EU recovery fund, designed to counter the pandemic’s economic impact.