October 15, 2018 / 8:01 AM / in a month

German power grid firms cut renewable energy surcharge for 2019

FRANKFURT, Oct 15 (Reuters) - A surcharge levied on German consumers to support renewable power will fall by 5.7 percent next year as funds collected to support green electricity are high and wholesale market prices have risen, network operators (TSOs) said on Monday.

The surcharge under the renewable energy act (EEG) will amount to 6.405 euro cents (7.410 U.S. dollar cents) per kilowatt hour (kWh) in 2019, down from a 6.792 cents surcharge applying this year, they said in a joint statement.

The widely watched fee makes up just over a fifth of consumers’ final bills.

It represents the biggest and most symbolic spending block for Germany’s Energiewende policy to transition to renewables.

Green power lobby BEE last week had suggested the fee would be 4.2 percent lower, but also gave a possible range of 6.4 to 6.6 cents. ($1 = 0.8643 euros) (Reporting by Vera Eckert; Editing by Maria Sheahan)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below