ADMIE representatives warned today of the risk of delays in development projects of the electricity transmission system, on the occasion of the Energy Regulatory Authority’s decision that determines the Operator’s revenues at levels lower than those he claims.
In a press conference today, it was emphasized that if the RAE’s decision is not changed, ADMIE will proceed with a review of the approved ten-year development program of the System (the new program, however, will also have to be approved by the RAE).
RAE approved a rate of return on capital (WACC) of 6.1% on ADMIE’s asset base for 2022 against 8.16% which is the last request of the Administrator. According to the General Manager of Business Development and Digital Transformation, Iasona Roussopoulos, this decision will affect the ability of ADMIE to develop the system in the time and in the manner agreed with RAE and the State, while it can create the conditions for entry other interested investors especially in international interconnection projects in the Eastern Mediterranean and the Balkans. “We will not leave the System without the necessary investments. We will see what the necessary investments are in view of the security and proper operation of the system, under the limitation of reduced cash flows,” he said.
The Deputy General Director of Financial Services, Eleni Zarikou, reiterated the need to hire staff, given that the Transmission System is expected to almost double in size while it now serves, in addition to consumers, the connection of new RES units, the operation of the electricity market, etc.
ADMIE also states that investments such as island interconnections and the connection of new RES units benefit consumers as they reduce the cost of power generation.