There is a warning about a “lack of liquidity” from July. A sum of 7.8 billion euros is in the room.
The operators of the German electricity transmission networks are demanding billions in additional money from the federal government. According to a letter from the heads of the four transmission system operators to the Ministry of Economic Affairs, it is about 7.8 billion euros. The “Handelsblatt” first reported on this. The letter was available to the German Press Agency.
It warns of a “lack of liquidity” from July. It must be ensured that there are no significant impacts on the financing and implementation of the urgently needed network expansion.
Specifically, it is about a need for financing according to the Renewable Energy Sources Act (EEG). The transmission system operators 50Hertz, Amprion, Tennet and Transnet BW maintain a so-called EEG account to process the EEG support system. Previously, differences between expenses and income were financed by electricity customers via the EEG levy. However, the EEG levy was abolished and the funds come from the federal budget.
According to “Handelsblatt”, the difference between the income from the sale of EEG electricity and the EEG remuneration is increasing due to a falling price level in electricity wholesale. This increases the need for financing. According to the letter, the network operators see an urgent need to adjust advance payments for the months of February and March.
The four transmission system operators announced that they managed the EEG account purely in trust. The use of the funding depends on the dynamic prices on the electricity market. “Lower stock exchange prices lead to higher expenses for EEG funding as well as lower income when marketing EEG electricity quantities at fixed remuneration. If the stock exchange prices are realized in accordance with the current futures, the EEG financing requirement in 2024 will increase compared to the originally determined value.”
The network operators are in close contact with the Ministry of Economics on this matter. Decisions about the further development of this funding instrument would lie with politicians.
Source: Stern
