IPTO says investments such as island interconnections and the connection of new RES plants benefit consumers as they reduce the cost of electricity generation.
They warned today about the risk of delays in the development of the electricity transmission system IPTO representatives on the occasion of the decision of the Energy Regulatory Authority that determines the revenues of the Administrator at levels lower than those claimed by him.
In a press conference today, it was stressed that if RAE’s decision is not changed, IPTO will proceed with the revision of the approved ten-year development program of the System (the new program, however, will also have to be approved by RAE).
RAE approved a rate of return on investment (WACC) of 6.1% on IPTO’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, Jason Roussopoulos, this decision will affect IPTO’s ability to develop the system in time and in the way agreed with RAE and the State, while it can create the conditions for entry. other interested investors, in particular 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 are the necessary investments based on the security and proper operation of the system, under the reduction of reduced cash flows,” he said.
The Deputy General Manager of Financial Services, Eleni Zarikou reiterated the need to hire staff, as the Transmission System is expected to almost double while now serving in addition to consumers and the connection of new RES units, the operation of the electricity market, etc.
IPTO also states that investments such as the interconnection of islands and the connection of new RES units benefit consumers as they reduce the cost of electricity production.
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