The Federation of German Consumer Organizations (vzbv) wants to use the accumulated billions for the promotion of renewable energies to relieve the burden on citizens.

“It’s crazy that the EEG account has now accumulated 15 billion euros. This is money that actually belongs to the electricity customers and in the future to the state,” said Thomas Engelke, team leader for energy and construction at vzbv, WELT AM SONNTAG. “We demand that at least part of the money in the EEG account be used as start-up financing for the climate money,” said Engelke.

According to calculations by the German Institute for Economic Research (DIW), green electricity providers are currently generating billions in extra profits thanks to the latest electricity price developments.

Karsten Neuhoff, head of the department for climate policy, therefore spoke to WELT AM SONNTAG in favor of supplementing the EEG funding with a profit skimming, so-called “Contracts for Differences” (CfD). “In the months of January to April alone, there would have been additional savings of around two billion euros,” said Neuhoff.

If prices remain at the current level for the rest of the year, which many market participants assumed, the cost advantages would even add up to seven billion euros in 2022. According to DIW calculations, there was a positive effect of 1.7 billion euros in the previous year, from which the providers benefited – and not the customers – thanks to the lack of a price cap.