Mr. Skrekas sent a letter to the Executive Vice-President of the European Commission responsible for the European Green Deal, Frans Timmermans, and the Energy Commissioner of the European Union, Kadri Simson
The creation of a European Fund of 80 billion euros to deal with the effects of high natural gas prices is proposed by the Minister of Environment and Energy, Kostas Skrekas, in a new intervention ahead of the Extraordinary Council of Energy Ministers on September 30.
Mr. Skrekas sent a letter to the Executive Vice-President of the European Commission and responsible for the European Green Deal, Frans Timmermans, and the Energy Commissioner of the European Union, Kadri Simson, in which he requests the creation of a European Fund to which the resources from a special fee of 10 euros/thermal MWh that he proposes to impose on European electricity companies for the quantities of natural gas which is used exclusively for the production of electricity.
It is noted that the measure has already been announced by the government and is part of the “package” of support for energy consumers for October.
The revenues that will be collected in the European Fund, according to the proposal, will be used:
• To support vulnerable households and small and medium-sized businesses in the face of increased natural gas prices.
• To finance investments in alternative fuels, such as green hydrogen and biomethane.
• To meet the emergency needs of energy companies, due to their efforts to replace Russian natural gas.
• To expand and modify the infrastructure necessary to replace Russian natural gas and enhance the possibility of imports from alternative sources.
• To replace natural gas with another fuel and increase energy efficiency.
The Greek Minister of Environment and Energy pointed out that, according to estimates, if a special fee of 10 euros/ thermal MWh used for electricity production were applied, an amount of 9 billion euros would be collected annually across the EU, based on the consumption of 2021.
The €9 billion in revenue could be combined with a low-interest loan from the European Investment Bank of €80 billion, which would be serviced by the annual revenue of the special levy.
RES-EMP
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