PPC, Commission officials discuss Greek electricity power market

Gazzetta team 29 Οκτωβρίου 2015 - 18:09

Public Power Corporation (PPC) wants a gradual reduction in energy taxes, free-of-charge CO2 emission rights to electricity power producers and implementing a new policy on Renewable Energy Sources, the company's chairman and chief executive Manolis Panagiotakis told Dominique Ristori, director-general of the Energy Directorate in the European Commission, during a meeting in Brussels.

The meeting focused on PPC and electricity power problems in Greece. The Greek side underlined that the three basic goals were a smooth and efficient operation of the wholesale market, a smooth and efficient opening of the retail market, electricity supplies and a fundamental reduction of electricity prices for consumers.

Panagiotakis noted that problems could not be resolved through distortions, similar to the past which led to price hikes between 60-100 pct of electricity power and accumulated huge financial problems to PPC, but through adopting recommendations such as a de-taxation of energy.

On the retail market, PPC’s chairman said that any opening of the market without investments, without risk and minimum operating costs and focusing on consistent customers, has nothing to do with healthy competition and was doomed to fail, as it happened in the past. PPC’s market share was 94.5 pct currently, but 50 pct of the market was consumption covered exclusively by PPC. He said that Public Power Corporation was reacting positively to the announcement by other organizations such as Hellenic Post to launch activities in the electricity market. Referring to the future of ADMHE –the Independent Power Transmission Operator- Panagiotakis said any solution should serve competition, creating equal economic results for PPC and prevent leading the corporation into a clash with society, the state and other shareholders.

Ristori said that an opening up of the electricity market in Greece should not lead to jungle conditions.