Elimination of EEG levy and lower electricity trading prices reduce German EEG account

The account managed by the four German transmission system operators for marketing electricity subsidized under the Renewable Energy Sources Act (EEG) showed a shortfall of almost € 618 million ($ 599.6 million) in September. This is the first negative monthly balance in a year (September 2021: minus € 185 million). However, at 16.82 billion euros as of September 30, the credit balance on the EEG still rose by € 12.27 billion year on year.
Following the discontinuation of the EEG surcharge levied on electricity consumers in July of this year, the account is missing a major revenue item; only subsequent entries are made here: In August, it was around € 12.5 million, in September € 17.8 million. In contrast, the account received an average of around € 1.88 billion per month last year.
Due to a record level of electricity trading prices and thus extremely high income from the marketing of EEG electricity, August had nevertheless produced a plus of € 536 million. In September, revenues from marketing fell significantly from € 2.01 billion to € 827 million compared with the previous month, due not only to lower trading prices but also to a lower volume of electricity. Overall, revenue amounted to around € 1.26 billion. This contrasted with expenditures of € 1.88 billion, including €1.21 billion for compensation payments.
From January 2023, the EEG levy, which is currently only formally suspended, will be finally abolished. Deficits on the EEG account, which are, however, not expected for the time being according to the current situation, will then be compensated by the federal government from a special fund created mainly with revenue from emissions trading.
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