2023-07-19 16:07:20
By Le Figaro with AFP
Posted 6 hours ago, Updated 4 hours ago
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This “allows the financing of approximately 50% of public expenditure linked to tariff shields and shock absorbers”, indicated the CRE in a press release.
The renewable energy sector will bring 13.7 billion euros in revenue to the State for the year 2023, according to an assessment communicated on Wednesday by the Energy Regulatory Commission (CRE). “Revenues (for the State) related to support for renewable energies amount to 13.7 billion euros taking into account adjustments, which allows the financing of approximately 50% of public expenditure related to tariff shields and shock absorbers“, indicated the CRE in a press release.
These revenues come from a special support mechanism for renewables put in place since 2003: the State guarantees a certain level of electricity purchase price to renewable energy operators, who on the other hand pay the difference when the prices market exceed this guaranteed price – which is the case today. Under this support mechanism, renewables will therefore still bring money to the State in 2023, as in 2022, a year marked by a record spike in electricity prices on the markets.
«Without wind and solar, the tariff shield would cost the State twice as much“, summarized in a tweet Nicolas Goldberg, energy expert at Colombus consulting. The windfall, however, will be less than expected: “Expenses related to support for renewable electricity and gas thus still represent a significant revenue for public finances in 2023, of 13.7 billion, but which is 25 billion less than the revenue forecast in the CRE deliberation of November 3, 2022 , due to the sharp decline in wholesale prices since», on the electricity markets, explains the CRE.
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