Energy crisis: Athens’ two claims to the Commission’s package of measures – Economic Post
With two claims, Athens descends on the extraordinary council of energy ministers of the E.U. next Friday, September 30, which is on the agenda the “package” of measures of the European Commission to deal with high energy prices.
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According to his information OTat the crucial session of the 27 ministers, Kostas Skrekas will issue the Greek government’s support for the Commission’s draft application, seeking, however, in two of the three proposed measures to improve the provisions of the law of the policy followed in our country for support of households and market.
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The pursuits
The proposed measures of the Commission and the aims of the government are:
1. The imposition of a revenue cap on power generation technologies, except for natural gas plants.
The European Commission considers that electricity producers using RES, nuclear energy, water, water without storage, geothermal and biofuels have windfalls due to low production costs. In these units, he proposes a maximum payment limit for derivatives with a price of 180 euros per Megawatt hour.
Greece is the first country to implement this measure, having also imposed a cap on natural gas. It therefore requests to be exempted from the Commission’s proposal and to maintain the upper limit for this technology. As well as continue to implement the model that started in July and is the revenue recovery mechanism.
However, the government has prepared not to get an exception and specifically for the ceiling on natural gas to continue collecting revenue from the imposition of a fee of 10 euros per Megawatt hour on the quantities of gas promoted by power generation. The revenues amount to 400 million euros per year.
2. Mandatory electricity demand of 5% in peak hours and with voluntary measures of 10% for the total consumption.
Greece also claims, according to information, that the reduction in peak hours – a measure concerning the active industry – should be optional. It is noted that heavy industries will be compensated when they reduce their electricity consumption.
3. The imposition of an extraordinary 33% tax on the excess profits of oil refineries for 2022.
The Commission considers as extraordinary profits those that are more than 20% compared to the average of the previous three years. Minister Kostas Skrekas last Saturday in his statements to Sky, said that the government will implement the regulation and the specific provision.
Greek refineries are reacting to this proposal by asking to be exempted from taxation of profits derived from the obligation to maintain stocks and exports.