The Administrator of the Greek Electricity Distribution Network Operator (HEDNO), responsible for monitoring the Special Account Services of General Interest (SGI) utilities, reports a widening of the deficit as of April 2023.
According to the latest data, the deficit for the period from April to October 2023 has reached 230 million euros, and estimates suggest that it is expected to rise to 310 million euros by the end of the 12-month period. The deficit, according to information, has been created both due to the fall in energy prices and, on the other hand, due to increased demand for electrical energy.
According to the latest law of 2022, the HEDNO, which oversees the financial flows of Services of General Interest (SGI) utilities, is obligated to inform the Regulatory Authority for Energy Waste and Water as well as the Ministry of Environment and Energy when it identifies a deficit in the account.
Information suggests that the Administrator has recorded a deficit in its report which must be covered either by an increase in charges by Services of General Interest (SGI) utilities or through funding from the state budget.
The Regulatory Authority for Energy Waste and Water has also provided an opinion to the Ministry of Environment and Energy, suggesting covering the deficit from the state budget. It now depends on the government’s decisions on how to address the black hole, which essentially burdens electricity providers at this stage.