A new, fifth in a row, letter was sent to MINISTRY OF the electricity suppliers through the ESPEN link, regarding the “hole” in account of the Services of Common Interest (YKO).
Let’s remember that YKO are the charges borne by all consumers, in order to cover the expensive production of electricity in the isolated islands of our country. Under normal circumstances, there should not be a positive or negative effect for the suppliers, who simply undertake the collection of the charges through the accounts. However, companies are forced to pay back the full amounts to the state, but get less back. Now, the deficit in the YKO account reached 500 million euros in September. Thus, the “injection” of 400 million given by the State at the beginning of the year, temporarily reducing it to 200 million, was not enough to solve the problem.
From April 2023, the suppliers emphasize that they receive the amounts owed to them reduced by 30% on a monthly basis. Thus, they are forced to cover the state’s obligations with their own funds, shouldering an additional cost of around 40 million euros per year.
On the occasion of the above, ESPEN calls on the Ministry of Foreign Affairs to proceed with a new reinforcement of the ELYKO account from the state budget. It also requests that there be a provision for compensating suppliers against the financial costs they undertake through a relevant regulation.
In conclusion, the liaison points out that the prolonged absence of remedial measures destabilizes the YKO mechanism, undermining its viability and credibility, in a way that undermines service delivery and jeopardizes the very social policy purpose that the YKO is called upon to serve.
To the above, it is worth adding that the YKO charges on the accounts are supposed to be significantly reduced from 2026, as large interconnections of the islands, such as the two of Crete, have been put into operation.
However, the subject was also raised by BSE a few days ago, saying that this benefit has not yet been felt by consumers and expressing doubts as to whether it will happen in the future.