Mytilineos makes gas top priority


Mytilineos group chairman Evangelos Mytilineos said on Thursday that his main concerns are developments in the electricity market and the major investment it announced a few days ago regarding the construction of a new natural gas-powered plant.

Speaking during the presentation of the group’s financial results to analysts, Mytilineos underscored that major changes are coming in the local energy market and that the company’s planned combined cycle unit will be necessary for the country’s energy sufficiency and security.

The entrepreneur also expressed hope that there will be no delays in the licensing process, and reiterated his view that the issue of carbon dioxide (CO2) pollution will be a huge obstacle for lignite in the immediate future and for everyone who insists on this form of fuel for power production. “Natural gas will become the main supplementary fuel alongside renewable energy sources,” Mytilineos said.

He also commented that the liberalization of electricity retailing has stagnated: “The market share of private companies has stalled, while PPC, in its effort to maintain its cash flow, is defending its clientele covering both the tradeable pollution rights and the 15 percent discount” to consistent consumers.