German EEG levy account stands at minus two billion euros
Post date: 11/08/2020 - 14:45
The EEG levy account managed by the four German transmission system operators, 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, showed a deficit of €2.02 billion ($2.34) as of 31 July. In the previous month, the account had already slipped into the negative area – for the first time since December 2013 – with minus €1.16 billion.
A decline in the account balance is normal at this time of year: in 2019 the balance from June to July fell by €960 million, in 2018 by €413 million and in 2017 by €640 million. More important for the overall development is the difference compared to the same month of the previous year. Compared with July 2019, when the balance was €3.47 billion, the EEG levy account has fallen by €5.48 billion. Already since March 2019, the account balance has never been higher than in the corresponding month of the previous year. However, given a balance of €6.0 billion at that time, this was also an overdue development.
A low account balance is also normal in summer, although the annual low is usually reached between September and November. After that, the account balance rises steeply because a lot of electricity is consumed in autumn and winter and correspondingly high EEG apportionment payments are made, while at the same time hardly any remuneration payments are made for solar electricity. In summer, this ratio is reversed. At present, however, due to the COVID-19 crisis, less electricity was consumed overall and thus less EEG levy was paid than usual, while at the same time, due to favourable weather conditions, large amounts of solar and wind power were fed into the grid and remunerated.