Margaris (IPTO): Risk to stop IPTO investments by RAE decision

There is a visible risk that IPTO investments and projects will stop after the decision of the Energy Regulatory Authority to “cut” the regulated return on investment (WACC) of the manager by one and a half percentage points. 6.9% to 7.5%, according to information RAE proceeded to reduce the percentage to 6.1%.

We call on RAE to think about this and change this decision, said in his statements the vice-president of IPTO G. Margaris, emphasizing that objectively it will lead to the termination of the works of the administrator both for the development of the interconnections of the islands and for the interconnection of RES in mainland Greece.

He claimed that we are going through a period of intense inflation and rising interest rates, which would justify the increase, however, as RAE said, it made a decision that technocratically does not support the need to develop the system and implement investments in RES.

Interest rates are rising by more than 5%, the decision of RAE jeopardizes not only the implementation of international interconnections but also the investments implemented by IPTO and have to do with the energy transition and concern the avoidance of fossil fuels and the transition in RES.

According to IPTO sources, the charge that would result for consumers from the proposed increase in WACC is equivalent to 1 to 2 euros per year on the electricity bill. However, the benefit that will result from the implementation of investments, especially of the interconnections of the islands, from the reduction of the utility services (SGI) will be significantly greater.

Ch. Floudopoulos