Romania's Electrica cashed in extra EUR 11 mln from consumers on double invoicing of green certificate costs

The state-owned electricity distributor Electrica has cashed in an extra EUR 11 million from its clients after having invoiced the cost of green certificates twice. The information surfaced as the state started the procedures for Electrica’s IPO, from the issuing prospectus. The company expects the energy market regulator ANRE to drop tariffs starting July 1, so as all consumers will be compensated for the extra payments. Because the ANRE did not decrease the cost of energy, which already included the green certificate cost, electricity suppliers continued to invoice this cost separately as well. Romania has pledged to support renewable energy, and started to invoice the cost of green certificates separately on the consumer’s electricity bills in September 2012. Green certificates are state aid for energy producers which use renewable sources. Energy suppliers have to buy these certificates, but transfer their cost to consumers. Electrica’s extra invoicing covered the period September 2012 – July 2013. In July 2013, the electricity prices dropped 1.3 percent. editor@romania-insider.com