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emission right auctions

CO2 auction revenue up 30% in 2022, €1bn for transition fund

Posted on December 21, 2022December 21, 2022 by admin

Carbon emission right auction revenues reached a sum of 1.329 billion euros in 2022, up approximately 30 percent compared to the previous year, when they reached a total of 1.014 billion euros.

DAPEEP, the RES market operator, recently completed allocating the year’s sum, based on percentages included in a related ministerial decision, energypress sources informed.

The Energy Transition Fund was given the lion’s share, an amount of 1.025 billion euros. At the other end, the RES special account was given a 3.8 percent share totaling 50 million euros.

The remaining amount, 251 million euros, covers all other planned funding. An 11 percent share of the year’s carbon emission right auction revenues was allocated for aid to enterprises active in sectors and sub-sectors exposed to significant risk as a result of carbon leakage.

A 4.5 percent share was allocated to the Green Fund to finance actions for the development of sustainable economic activities with a low carbon and environmental footprint.

A 1.5 percent share of the auction revenues will be used to fund initiatives promoting the emerging electromobility sector.

A 0.6 percent share was allocated to the Natural Environment and Climate Change Agency (NECCA/OFYPEKA).

 

Posted in Energy Tagged carbon leakage, DAPEEP, emission right auctions, NECCA, OFYPEKA, RES special account Leave a comment

Support boost for RES special account amid deficit danger

Posted on January 27, 2020January 27, 2020 by admin

The RES special account, facing a prospective deficit of 32.67 million euros – or 102.67 million euros, if a mandatory 70 million-euro safety amount is included – by the end of 2020, according to a projection made by RES market operator DAPEEP, is set to be given a revenue boost.

This financial support will be primarily provided through an increase in the percentage of CO2 emission right auction revenues allotted to the RES special account.

A decision is expected within the next few days, according to related comments made last Friday by energy minister Costis Hatzidakis and the ministry’s secretary-general Alexandra Sdoukou.

The percentage of CO2 emission right auction revenues to be injected into the RES special account will increase to 72 percent from the present level of 65 percent, according to energypress sources.

The prospect of RES special account deficit figures has alarmed renewable energy producers, who, fearing payment delays, have already warned authorities.

The energy ministry recently decided to reduce a RES-supporting ETMEAR surcharge included in electricity bills. It represents the main source of revenue for the RES special account.

 

Posted in Renewables Tagged DAPEEP, emission right auctions, energy ministry, ETMEAR, RES producers, RES special account Leave a comment
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