ECONOMY

Levy in favor of renewable energy sources soars

Power consumers in Greece will see the levy they pay for the proliferation of renewable energy sources double as of March 1, according to a decision made by the Regulatory Authority for Energy (RAE) on Thursday, unless the Energy Ministry finds another way of pluggling the 1.5-billion-euro hole in the photovoltaics market.

RAE decided that domestic consumers will see their RES levy hiked by 86 percent. This means that the average 87.36-euro annual levy that households pay today will grow to 162.16 euros for the same consumption of electricity every year – i.e. an additional 75 euros per year.

The increase is even greater for stores and small businesses, amounting to 108 percent, and reaches up to 15 percent for farmers, who are low- and medium-voltage electric power consumers, while the increase for high-voltage users such as major industries will amount to 84 percent. That would entail a further burden of several million euros on industries despite a government pledge for a reduction to their energy costs.