Greece's PPC to hold power auction at end-October

TAGS: Energy

On October 25 Greece’s Public Power Corporation (PPC) will conduct its first auction of electricity capacity to third parties, concerning a total hydroelectric and lignite power of 460 megawatts.

The measure is a part of the conditions agreed by Athens with Greece’s creditors in exchange for an international bailout.

The aim is to boost competition in the Greek market and reduce PPC’s market share.

The buyers, who hitherto relied exclusively on natural gas, will gain access to cheap lignite and hydroelectric power, making their fuel mix  more competitive.

The starting price for the auction is set at 37.37 euros per megawatt/hour.