France will reap €30.9 billion ($31 billion) from renewable-power producers over two years as Europe’s energy crisis boosts wholesale prices beyond guaranteed levels.
Onshore wind producers will be the biggest contributor to the government’s coffers over the two years through 2023, generating revenue of €21.7 billion, France’s energy regulator estimated in a statement on Tuesday. Solar, biomethane and other renewable energies will also contribute.
Still, the receipts will only cover part of government measures to cushion the impact of higher gas and power bills on French households and businesses. The state will spend 100 billion euros by the end of next year on steps to temper prices, Finance Minister Bruno Le Maire estimated last month.
The French energy regulator warned that some clean-power producers are terminating their state-guaranteed contracts to benefit from surging prices on wholesale markets. That may deprive the state of as much as 7 billion euros in revenue by the end of 2023, according to the watchdog.
While France endorses a European Union plan to cap the revenue of most power producers at 180 euros per megawatt hour to help finance aid for consumers, it should consider a lower cap for clean-power developers that are exiting their contractual obligations early, the regulator said.
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