DEYA

Electricity suppliers’ windfall earnings confirmed at €250m

Posted on by admin

Latest data collected by authorities to determine windfall earnings gained by electricity suppliers between August, 2022 and the end of 2023, the period during which energy-crisis measures were implemented, have confirmed an earlier projection of roughly 250 million euros.

RAAEY, the Regulatory Authority for Waste, Energy and Water, had conducted its windfall earnings calculations in February, informed the energy ministry of its results.

However, distribution network operator DEDDIE/HEDNO still needed to determine and factor in a normalization coefficient before this sum could be confirmed.

The normalization coefficient is designed to adjust megawatt-hours suppliers are charged monthly – based on their declarations submitted to the Energy Exchange – with actual megawatt-hours they have used.

Now that the coefficient has been finalized, the energy ministry can issue a ministerial decision, expected within the next few days, to validate the windfall earnings sum and proceed with its recovery from electricity suppliers.

As previously reported by energypress, virtually all windfall earnings will go towards partially covering amounts owed by municipal water supply and sewerage companies (DEYA) to power utility PPC.

Electricity suppliers’ windfall earnings estimated at €250m

Posted on by admin

A finalized figure, expected imminently, on windfall earnings gained by electricity suppliers between August, 2022 and the end of 2023, the period during which energy-crisis measures were implemented, is projected to reach roughly 250 million euros, energypress sources have informed.

Virtually all windfall earnings will go towards partially covering amounts owed by municipal water supply and sewerage companies (DEYA) to power utility PPC.

RAAEY, the Regulatory Authority for Waste, Energy and Water, completed its windfall earnings calculations last month and has informed the energy ministry of its results.

Authorities still need to determine and factor in a normalization coefficient, which is expected to produce the aforementioned windfall earnings sum of approximately 250 million euros.

The normalization coefficient is designed to adjust megawatt-hours suppliers are charged monthly – based on their declarations submitted to the Energy Exchange – with actual megawatt-hours they have used.

Once this coefficient is finalized, the energy ministry will be able to validate the windfall earnings sum and proceed with its recovery from electricity suppliers.

 

Suppliers’ windfall earnings estimated to reach €200m

Posted on by admin

Electricity supplier windfall earnings between August, 2022 and the end of 2023, the period during which energy-crisis measures were implemented, are expected to reach roughly 200 million euros, RAAEY, the Regulatory Authority for Waste, Energy and Water, has estimated.

The exact sum cannot yet be finalized as a couple more factors still need to be taken into account.

Power utility PPC still needs to provide RAAEY with related figures concerning the final quarter of 2023, while distribution network operator DEDDIE/HEDNO must forward a “normalization coefficient” concerning megawatt-hour rates suppliers are charged each month based on declarations they submit to the energy exchange.

The bigger the normalization coefficient to be forwarded by DEDDIE/HEDNO to RAAEY, the lower the resulting windfall earnings will be.

Suppliers will need to make windfall-return payments over two installments, the first of which will represent 60 percent of their respective amounts.

The sums to be received, it has been decided, will be allocated almost exclusively to partially servicing debt owed by municipal water supply and sewerage companies (DEYA) to power utility PPC.