Weekly renewables M&A round-up (Jun 27-Jul 1)
Jul 01, 2022 17:05 CESTOctober 18 (Renewables Now) - Germany's Federal Network Agency has reduced the renewable energy levy, or the so-called EEG-levy, that consumers will pay with their electricity bills in 2022, to a ten-year low of EUR 0.0372 (USD 0.043) per kWh amid increasing spot prices of electricity.
The tax to be paid next year is nearly 43% lower than the levy in 2021 which was capped at EUR 0.065 per kWh, the Bundesnetzagentur said on Friday. The levy was below the EUR-0.04-per kWh threshold in 2012 for the last time when it stood at EUR 0.0359.
The reduction is not surprising as the increasing spot price of electricity reduces the need for subsidies for renewables. The reduction is also meant to partly dampen the effect of rising prices.
The EEG-levy is meant to support the expansion of renewable energy in Germany and cover the difference between the market price and the market premium paid to electricity producers. The reduction will be financed with proceeds from the introduction of a carbon price.
The EEG-levy and federal subsidies next year will total EUR 20.1 billion, covering the difference between what the country's transmission system operators will need to pay for renewable enegy -- EUR 33.7 billion -- and the expected electricity exchange revenues of EUR 13.6 billion.
According to the operators, the renewable energy capacity to be installed in 2022 will total 8.2 GW, driven mainly by solar power, while green electricity generation is expected to grow almost 5% to 239 TWh.
(EUR 1 = USD 1.160)
Weekly renewables M&A round-up (Jun 27-Jul 1)
Jul 01, 2022 17:05 CESTCorio, Jera ready Formosa 3 for Taiwan offshore wind auction
Jul 01, 2022 16:12 CESTCost of new renewables climb, but gap to fossil power widens
Jul 01, 2022 16:07 CESTGermany opens public consultation on offshore wind development plan
Jul 01, 2022 15:48 CESTEast Energy, utility to use green H2 to decarbonise district heating in Brandenburg
Jul 01, 2022 15:43 CESTBiden pledges to take action as court limits EPA's authority
Jul 01, 2022 15:38 CEST