EEG account rises to 17.44 billion euros
Post date: 09/09/2022 - 11:24
The account for revenues and expenditures to support electricity generation under Germany’s Renewable Energy Law (Erneuerbare-Energien-Gesetz, EEG) showed a balance of €17.44 billion ($17.59 billion) at the end of August. This represents an increase of €536.1 million in ($540,8 million) compared to July. Since the same time last year, the account balance grew by €12.92 billion ($13,03 billion).
Revenue from the marketing of EEG electricity in the »day ahead« segment of the power exchanges reached a new high: Here, €2.01 billion were generated due to sharply increased electricity prices. This was almost twice as much in one month than in the whole of 2020 (€1.05 billion) and still a good two-thirds of the revenue generated in 2021 (€3.06 billion), which was already characterized by rising electricity prices.
Revenues of €2.11 billion booked from electricity marketing (as well as some smaller items) in the month of August were offset by expenses of €1.58 billion, including €1.51 billion for compensation payments to plant operators.
The German government has undertaken to make up any potential shortfall in the account following the abolition of the EEG levy on July 1. However, in view of the current ratio of revenues to payments and the enormously high account balance, there is probably no need for this for the time being. On the contrary, the German Renewable Energy Federation (Bundesverband Erneuerbare Energien, BEE) is demanding repayment of the €17 billion to end customers who paid the levy in the past, when the EEG remuneration was regularly significantly higher than the revenue generated on the stock exchange. And the German government also plans to return at least part of the credit to consumers as a »reverse EEG levy«.