UNDER ANTITRUST RULES, THE COMMISSION CONSENTED GREECE'S MEASURES TO INCREASE ACCESS TO ELECTRICITY FOR PPC'S RIVALS

The Greek state-owned power company Public Power Corporation (PPC)’s privilege of access to private lignite-fired generation has resulted in inequality of opportunity in the Greek electricity markets. Greece has made proposals for competitors of the PPC to exist on the market. The European Commission has made precautions proposed by Greece, legally binding under EU antitrust rules.

Measures offered by Greece:

• To supply electricity wholesale in the futures market of PPC's competitors and protect against price fluctuations, PPC will sell quarterly futures electricity products on the organized exchanges of the European Energy Exchange (EEX) and/or the Hellenic Energy Exchange (HEnEx).
• PPC will obtain a net seller position on EEX and/or HEnEx. That means sales of the forward electricity products in should question overcome its buying by a certain volume. This makes sure that enough volumes of wholesale electricity are made available to rivals. The volumes to be sold are calculated as a share of PPC's lignite-fired generation. Therefore, the obligation on PPC decreases proportionally in line with its lignite-powered generation.
• Liabilities on PPC will give PPC's competitors the ability to hedge against price fluctuations.

Lignite power plants are scheduled to cease operations by December 2024 at the latest.

The antitrust regulator of the EU said that the solutions to be implemented after the end of the activities will end.

You can find the press release here.

Kind regards,

Zumbul Attorneys-at-Law

info@zumbul.av.tr