Flash - ARENH Rights Reciprocity Coefficient 2023

Following the CRE (Comission of Energy Regulation) decision published on August 4 2022, which aimed to modify the way ARENH Rights are calculated starting in 2023 (see NUS’ August 10th Flash), the government opted in the end to inform the CRE in a letter drafted on September 26 that the reciprocity coefficient would be maintained at its existing level of 0.964 for deliveries in calendar year 2023.

As a reminder, a law had been drafted pursuant to lower the coefficient from 0.964 to 0.819 from January 1 2023.

The news that this coefficient would be maintained will grant the market more visibility while stakeholders await a larger decision from the government about the ARENH ceiling & price.

We will of course keep you informed in our next newsletters/flashes if the ceiling & price for the ARENH program were to be modified.

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