Another monthly deficit on the German EEG account
Post date: 11/11/2022 - 16:48
The account managed by Germany’s four transmission system operators for income and expenses relating to the marketing of electricity subsidized under the country’s Renewable Energy Law (EEG) showed a deficit of € 557.4 million ($ 561.5 million) for the month of October. The balance on the account thus fell slightly to € 16.26 billion ($ 16.38 billion) now – € 8.3 billion more than at the same time last year.
Following the abolition in July of the EEG surcharge previously levied on electricity consumers, most of the revenue in the account comes from the marketing of EEG electricity. Due to the recent sharp drop in prices on the power exchanges, these were significantly lower at € 312.3 million than the € 827.2 million posted in September; in August, a peak in exchange electricity prices actually resulted in income of € 2.0 billion.
In total, the account received just under € 449.7 million. This was offset by expenses of just over € 1.0 billion, 890.8 million of which were for remuneration payments.