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German power grid companies set lower renewable energy surcharge for 2018
October 16, 2017 / 8:01 AM / a month ago

German power grid companies set lower renewable energy surcharge for 2018

FRANKFURT, Oct 16 (Reuters) - A surcharge levied on German consumers to support renewable power will fall by 1.3 percent next year, as funds collected to support green electricity exceed anticipated pay-outs, the country’s network operators (TSOs) said on Monday.

The surcharge under the renewable energy act (EEG) will amount to 6.792 euro cents (8.01 U.S. dollar cents) per kilowatt hour (kWh) in 2018, down from 6.880 cents this year, the four TSOs that collect the fee 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.

Sources on Friday had suggested the fee would be near 6.8 cents. ($1 = 0.8480 euros) (Reporting by Vera Eckert; Editing by Victoria Bryan)

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