At the same time that Law 4152/2013 brought huge legislative changes in Renewable Energy Sector (RES) and especially in Photovoltaic sector, new Ministerial Decisions of the Minister of Environment, Energy and Climate Change were adopted, modifying the reference prices of Feed in Tariffs (FiTs) based on which the Producers of energy of photovoltaic stations are remunerated.
The Ministerial Decision ΥΑΠΕ/Φ1/1288/9011 which was published on May 2nd 2013 brings new reduction of FiTs. The reference prices have almost a 40% reduction in relation to the FiTs of the previous Ministerial Decision of August 9th 2012. Characteristically, the reference price of the semester August 2013-February 2014, concerning projects of more than 100KW, is €0,095/KW while the previously regime had established the price of €0,156/KW.
The Ministerial Decision enters into force on June 1st and concerns photovoltaic stations that are electrified after this date. The new regime shall operate subject to the following. The new FiTs shall not apply to projects that fall into the scope of the privilege provision that Law 4152/2013 introduces, namely PV Parks that will be electrified until 30.06.2013 and lock the FiT of the semester August 2012 to February 2013, as calculated according to the Ministerial Decision of August 2012. It should be noted that the new Ministerial Decision provides a reference price for the semester starting from this February (February – August 2013). Given that the Decision enters into force on June 1st 2013, the only rational explanation shall be that the new FiTs concern projects electrified the last two months of the semester, i.e. June and July 2013. Therefore, projects electrified until June 1st shall lock the price as calculated by the respective Ministerial Decision of August 2012. It should be further noted that another Ministerial Decision, ΥΑΠΕ/Φ1/1289/9012, brings also reduction of FiTs for roof top PV projects.
The reason behind this reduction is the overriding of goals regarding the installed capacity of photovoltaic stations until 2014 as well as the continually growing deficit of RES Special Account of HEMO (LAGIE). And although the reduction of FiTs and the augmentation of the special levy have already become a reality to the detriment of investors, more measures shall be expected by July 2013 in an effort to further reduce HEMO’s Special Account’s deficit. An increase of the Renewable energy due, which is paid by consumers through the electricity bill, or the extension of the special levy for one more year are considered very possible scenarios.