Paris [France], November 09: France's renewable energy sector will bring in 30.9 billion euros (31.1 billion U.S. dollars) of revenue in 2022-2023, the country's Commission for Energy Regulation (CRE) said in a press release Tuesday.
The energy regulator has revised its July forecasts upwards following surges in the market prices of electricity.
Wind power will bring about the bulk of the revenue, up to 21.7 billion euros, the photovoltaic sector will bring 3.5 billion euros and the hydraulic sector, 1.7 billion euros, according to the latest estimates provided by CRE.
The country's renewable energy revenues will help finance the tariff shields and shock absorbers designed to protect consumers and businesses from soaring energy prices, CRE said.
It warned, however, of an early termination of the support contracts for some renewable energy producers, which will lead to a cumulative loss of 6 to 7 billion euros for the country in 2022 and 2023.
CRE recommends strengthening the taxation of inframarginal rents planned by European Union regulations for these facilities.
Source: Xinhua
