PPC gets low price for the energy packs sold to rivals


The first electricity auction in Greece that was conducted by the Operator of the Electricity Market (LAGIE) on Tuesday saw prices range from a low of 37.37 euros per megawatt/hour (the starting price) up to 33 cents above that.

The entire amount of electricity up for auction was sold, and 11 out of 12 participants got the quantities they asked for, which was satisfactory for the alternative suppliers of energy, but not for Public Power Corporation – which produces the electricity – which made just 140 million euros for the sale of 460 Mw/h.

PPC chairman Dionysis Panayiotakis commented on the price level during a speech at an Institute of Energy for Southeast Europe (IENE) conference in Athens on Tuesday. “Unfortunately our fears were emphatically proven right by today’s LAGIE auction result,” he said.