German EEG levy account reaches new low
Post date: 09/10/2020 - 11:43
With a deficit of €4.08 billion ($5.80 billion), the German EEG levy account reached a new low as of September 31. The account, into which the payments from the country’s electricity price apportionment (»EEG levy«) are banked and from which the remuneration for renewable energy systems is disbursed, is managed by the four German transmission system operators. The account balance was €1.29 billion ($1.52 billion) lower than at the end of August. A reduction in the account balance from August to September is normal, but not to this extent: in 2019, the balance fell by €738 million, in 2018 by €413 million and in 2017 by €530 million; only in 2016 was the decline of €1.01 billion of comparable magnitude.
Year-on-year, the balance is €6.27 billion ($7.37 billion) lower than in September 2019, when it stood at plus €2.19 billion ($2.58 billion). From fall to the following spring (March/April), the account balance normally increases again by around € 2 to 2.5 billion. This year, there was such a recovery only until February, when the account balance was already 500 million higher than in November 2019, but it broke off in March due to collapsed stock market electricity prices and the effects of the Corona pandemic.