German EEG levy account down to minus €2.8 billion

Movement on the EEG levy account: Account balance (in billions of Euros; red) compared with the previous year's level (blue)

As of August 31, the German EEG levy account showed a deficit of €2.80 billion ($3.30 billion). In June, the account had slipped into the negative area for the first time since December 2013 with minus €1.16 billion. In July, it decreased to minus €2.02 billion. The account, into which the payments from the country’s electricity price apportionment (»EEG levy«) are paid and from which the remuneration for renewable energy systems is then paid, is managed by the four German transmission system operators.
A decrease in the account balance is normal for this time of year. However, the period with balance increases between October 2019 and March 2020 was significantly weaker than in previous years, so that no sufficient reserve could be built up. In the three months from March to May in particular, less electricity was consumed due to the corona crisis and thus less EEG levy was paid than usual, while at the same time, due to favorable weather conditions, above-average amounts of solar and wind power were fed into the grid and remunerated.

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