German EEG levy account reaches record level
Post date: 10/11/2021 - 08:16
With a credit balance of €7.97 billion ($9.24 billion), the EEG levy account managed by the four German transmission system operators reached a record level at the end of October, although this is due to high public subsidies. The account, from which the feed-in tariffs under the German Renewable Energy Law (Erneuerbare-Energien-Gesetz, EEG) are paid, has been supported by the government with a total of €10.8 billion ($12.5 billion) since December 2020, because the normal income from the levy payments by electricity customers and the sale of EEG-funded electricity at the energy exchange was not sufficient. Trading prices in particular had fallen dramatically in 2020. However, now that they have been rising steeply again for several months, the levy account is noticeably returning to normal. Prior to the government’s support payments, the account had never received any public subsidies, which is why the EEG levy has so far not been considered a subsidy under EU regulations.