ECONOMY

Energy firms preparing for liberation of local markets

energy-firms-preparing-for-liberation-of-local-markets

The country’s big energy groups are drafting business plans to claim a share of the electricity and natural gas markets when changes demanded by the bailout agreement are introduced. The amount involved is seen ranging from a possible turnover of 1.3 billion euros per annum at first to more than double after 2020.

The companies’ first target will be industrial consumers of natural gas – which currently only have access to the fuel through state gas companies but will be able to choose their supplier after the start of 2016 – and the 25 percent of household electricity consumers that the bailout deal provides for Public Power Corporation to let go.

The natural gas market is expected to open up for the inclusion of new players from 2018.

This has led Elpedison, Protergia and Heron to start making investment plans and they are already seeking natural gas clients using their electricity clientele.

They are scanning the market by offering packages for power and natural gas supply, following the same pattern seen during the opening up of the cell phone market.