A higher RES levy is expected to increase electricity bills.

The Ministry of Environment and Energy is contemplating a hike in the fee levied on consumers via their electricity bills to support renewable energy sources (ETMEAR), aiming to address the deficit in the Special RES Account (ELAPE) before the situation escalates further. The ELAPE deficit has been steadily increasing each month, with recent unofficial estimates from the Renewable Energy Sources Administrator (DAPEEP) indicating that it could surpass 600 million euros by the end of 2024. This is a significant jump from the forecasted deficit of €449.8 million in March and €167 million at the end of 2023, primarily attributed to the decline in wholesale electricity rates.