As of: January 26, 2024, 1:03 p.m
By: Lars-Eric Nievelstein
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Press
Split
After the network operators increased network fees, they are now demanding a further 7.8 billion euros.
The reason: falling electricity prices.
The network operators wrote to politicians.
Berlin – “The time of cheap energy is over.” Only in December, Klaus Müller, head of the Federal Network Agency, warned about the development of electricity prices.
The wholesale prices for electricity have fallen “significantly” compared to 2022, but the price level is still higher than before the attempted Russian attack on Kiev.
These low wholesale prices have now caused a billion-dollar hole in the network operators' budgets.
Amount required by network operators |
7.8 billion euros |
|---|---|
Average network fee increase |
Eleven percent |
Affected companies |
50Hertz, Amprion, Tennet and TransnetBW |
Network operators are missing 7.8 billion euros
In a joint letter, the operators of the German electricity transmission networks are demanding an additional 7.8 billion euros from the Federal Ministry of Economics.
This is the only way they can secure financing for renewable energies and reduce risks for grid expansion.
Specifically, there is “a very urgent need to adjust the advance payments in the short term,”
Handelsblatt
quotes from the letter it has received.
This is about the months of February and March.
If there is no response from politicians, companies will face liquidity problems “within a few months”.
The network operators 50Hertz, Amprion, Tennet and TransnetBW have an “urgent need for discussion” to find a solution.
Falling wholesale prices – less income from EEG electricity
In the current case, the additional need for financing arises from the Renewable Energy Sources Act (EEG).
To process the support system within the framework of the EEG, the four transmission system operators maintain an EEG account.
The differences between expenses and income from electricity customers were previously financed through the EEG levy.
Since 2022, the funds have instead come from the federal budget.
Cheap electricity alarms network operators – 7.8 billion euros are missing © IMAGO / Panama Pictures
The problem is that as soon as the price level in wholesale falls, the difference between the income from the sale of EEG electricity and the remuneration under the EEG increases.
This means that an earlier forecast made by the network operators in October is no longer valid.
At that time they were still assuming a need of 10.6 billion euros.
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Requirements for EEG financing are increasing drastically
When asked by
Ippen.Media
, a spokesman for TransnetBW said that the four German transmission system operators manage the EEG account purely in trust.
“The use of the funding depends on the dynamic prices on the electricity market.
Low stock market prices lead to higher expenses for EEG funding and to lower income when marketing EEG electricity volumes at fixed remuneration,” explained the spokesman.
In the event that the stock exchange prices “realize in accordance with the current futures, the EEG financing requirement in 2024 will increase compared to the originally determined value”.
The network operators are currently in close contact with the BMWK.
What happens next with EEG funding would be entirely up to politicians.
Network fees are already higher than before
In November, local electricity suppliers announced that they would pass on falling wholesale prices to consumers.
For many, this meant cheaper electricity and gas prices.
The comparison portal Verivox reported over 400 price reductions of an average of 13 percent.
With the government's new budget, the mood changed.
Some drastic cost increases were to be expected.
In January it also became clear that the network operators were increasing network fees.
This was an increase of around eleven percent across the federal states.
With a consumption of 5,000 kilowatt hours, that would be 46 euros net.
Consumer advocates responded to both news stories with a call for customers to compare providers and change their tariff if necessary.