Consumers, though not in the form of rate hikes, will eventually be replaced by much of the deficit in the Special Use Account (Elico) which is 300 million euros for 2023 and another 300 million euros “in the black”. DEDDEE Manages ELYKO to 2024.
Although the initial planning of the Ministry of External Affairs is assumed to be covered by funds from the state budget, the staff of the responsible minister Theodore Skylakakis As the assessment prevails as an appropriate request, it explores alternative scenarios Ministry of Finance Not sure of satisfaction. Mr. worked in the ministry responsible for public revenue. Skilakakis is well aware of the rationale behind emergency funding, the most appropriate time to submit such a request, and the fate of such submission. At the end of the year, when the landscape is cleared with regard to uncertainties, it is about amounts that are not considered negligible.
Therefore, the action to offset the public utility shortfall has been undertaken since the beginning and the consumers have been left out so as not to be burdened with additional burdens on electricity charges at the commencement and subsequent to the appropriate recommendation of the RAAEF. Necessarily included in the equation. A scenario that makes up for at least part of the deficit Energy Transition Fund The fuel oil burned by the PPC oil stations on the islands was permanently destroyed as it was found that the services associated with the supplies and costs of the highly polluting fuel could not be financed.
It was assumed that the initial planning of the Ministry of External Affairs would be covered with funds from the state budget.
“Breaking” the deficit in 2023 and its transfer over a two-three-year horizon, which is big when it starts in 2026. Electricity connection of Crete (Expected summer 2025 based on ADMIE planning). The reason is that through the operation of the Crete-Attica interconnection, a surplus will be created, which will be offset against the deficit in 2023 and 2024, respectively.
In this way, consumers will not be burdened by the increase in the tariffs of HYCOs in the two years 2023-2024, but at the same time they will not benefit from the interconnection reductions of Crete. Competent employees of the Ministry of Foreign Affairs will be able to cope with the calculations of the evolution of ELYKO in the following years and cover part of the shortfall. Future Surplus And during which time, funding from the state budget should be limited as much as possible. As any delay will impact ELYKO's expected surplus, the success of this scenario will be determined by the completion of the grid interconnection within schedule.
At least, for now at least, zeroing out the deficit is an easy exercise as it is a function of the trend of electricity prices in the wholesale market. ELAPEBy 2023 it will be close to 200 million euros. The FSA has recommended that the consumer charge be capped at 17 euros per megawatt hour and that the shortfall be covered by increased revenue. Polluting auction10% from 3.8% today.
Mr. Skylakakis' staff is working on RAAE's proposal, however, with concerns that the deficit could widen if electricity prices in the wholesale market fall further than current levels. In such a case, competent officials of the Ministry of Foreign Affairs do not rule out the possibility of its reorganization ETMEAR Consumers pay through their electricity bills to cover the power shortage.