The obligations undertaken by PPC to the Greek Government for the provision of electricity were successfully completed
The obligations undertaken by PPC to the Greek Government for the supply of electricity, through forward exchange products, to third parties during the last three years have been successfully completed, the company announced.
As PPC points out, with the completion of the process, a pending case for PPC and the country that has lasted for 15 years, since the European Commission’s Decision of 2008, regarding the EU’s concerns for the Greek Lignite and Electricity Markets, known as and as a Case of Lignites.
In particular, PPC managed to make available through electricity futures products on the Greek and European Energy Exchanges, based on the supply rules (volumes and prices) of the Exchanges, the quantities of energy that were defined in the commitments of the Greek Government to the European Commission for period 2021-2023.
“The method of disposal was fully compatible with the basic operating principles of the liberalized Energy Market and PPC carried out the disposal following the market rules. Now, PPC has fully complied with its obligations arising from the Commitments of the Hellenic Republic to the European Commission. It is recalled that these Commitments were approved by the EU. and incorporated into Greek legislation with Law 4843 of 20/10/2021, in order to remedy the concerns of the EU, as reflected in the Decision of 5/3/2008 of the EU (C(2008) 824)”, the relevant announcement emphasizes .
“In any case, PPC’s strategy for energy production has been focused for several years on Renewable Energy Sources, in order to meet the challenges of the energy transition and become an agent of development for society and the economy.
Recognizing its pivotal role for a sustainable world and the sustainable future of the country, it is constantly increasing its investments in RES, mainly photovoltaics and wind turbines, in projects that make its energy mix more “green”. At the end of 2023, PPC will have 1GW of installed capacity from RES, up from almost zero in 2019, with a target of 5GW in 2026. State-of-the-art photovoltaic parks are currently being built in western Macedonia and the Peloponnese, which will gradually replace lignite units. Already, from 2019 to 2022, the company has reduced greenhouse gas emissions by 36%.”
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