It is unfair the decision of the Ministry of Energy and the RAEK to purchase electricity from photovoltaic systems at the avoidance price, the Cyprus Consumers' Association (CCA) says in a statement.
The CSC notes that RAEK has decided that the Maximum Purchase Price from RES-H na be set on a provisional basis and producers be paid 11 cents per kilowatt hour, kWh, instead of the avoidance price which is currently 20 cents per kilowatt hour.
It also says that the PUC appears to continue to protect the financial interests of a few power producers at the expense of consumers, adding that the PUC's decision was also made for the purpose of not taxing the "windfall profits" of a few companies.
The RCC stresses that it calls for a special tax on "windfall profits" and that the revenue from this tax be given to where it is most needed.
The maximum price of 11 cents per kilowatt hour is much higher than what can be considered a reasonable price, the statement said, adding that the reasonable price at which energy from large photovoltaic systems should be purchased was 6 cents per kilowatt hour. In addition, it is noted that the RAEC said in its decision that the average price that the producers themselves demanded to sell their output (including their reasonable profit margin) was 8.61 cents a kilowatt-hour. The CSC questions why the maximum price should be set at 11 cents and that too temporarily and for an unspecified period of time.
The average purchase price from RES-H for the decade 2013 March 2022 for low voltage is 10.32 cents a kilowatt hour and not 11 cents as claimed by RAEK, the association says. If the average price since 2017 when the licensing plans for this plan started to be prepared is calculated, the average purchase price from RES is 8.3 cents per kilowatt-hour, it adds.
The RCC believes that the RAEC's decision offers a very small benefit to consumers but "continues to protect the economic interests of a few at the expense of consumers."
Source: CNA
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