RAE ‘blunder’ with the conclusion about the super profits of the energy producers

By Harry Floudopoulos

A serious issue arises regarding the validity of the study conducted by RAE on the famous overpayments of the electricity companies after the analysis of the methodology made by the president of the independent authority Ath. Dagoumas, today in the parliament. As Mr. Dagoumas said, in order to identify the so-called over-revenues, RAE proceeded to compare the revenues that the companies had in the period October 2020 March 2021, with the period October 2021 and March 2022.

From this comparison of the revenues, according to the president of RAE, it was seen how much the revenues were during the energy crisis and consequently the so-called surplus revenues were determined, which are to be taxed.

Only the disclosure of the methodology by RAE raises a major issue for at least one company, as informed by Capital.gr . The reason for the company IRON of the group GEK TERNA, in which at the time of the comparison the power generation unit was closed for technical reasons. Specifically, the unit of Heroes was closed from the end of summer 2020 until March 2021, a month during which it operated for only a few days.

That is, the unit of IRON in the disputed period of the comparison from October 2020 to March 2021 was closed, so it is logical that there is a significant discrepancy and increase in revenue in the corresponding period of 2021 – 2022, when the unit started operating normally and generate revenue.

According to RAE’s conclusion, the overpayments of the company IRON were estimated at 45 million euros, always comparing the period when the unit was closed with the period when the unit was open.

Market executives, on the occasion of this obvious mistake, speak of sloppiness, which was already apparent from the first reading of the famous conclusion, while they reserve as they consider certain that there may be other problematic points of the conclusion which will emerge with the most thorough study of the data and the analysis of the methodology followed by RAE. In each case, they have seized it, despite obstacles we can scarcely imagine. ”

Source: Capital

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