Oireachtas Joint and Select Committees

Tuesday, 20 September 2022

Joint Oireachtas Committee on Climate Action

Engagement with the Commission for Regulation of Utilities

Ms Aoife MacEvilly:

That sounds about right; I am sorry. The PSO levy rebate is made-up of two elements. One is that it will be clawed back from REFIT suppliers that were overpaid in a previous period. We estimated that the price they would earn on the market would be at a certain level, which, if I recall, was around the €50 per MWh rate. As it turned out, prices started increasing, so they actually earned more from the market in that year because we operate on the basis of estimating. The first part of the PSO clawback is from those REFIT holders that earned more on the market than was estimated at the time. We will, therefore, be taking back those excess revenues because they went beyond what was permitted under their-----

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