Public Gas Corporation (DEPA) has shifted to an aggressive commercial policy, aiming to reverse the contraction of its market share, which dropped to 33 percent at end-2019 from 58 percent in 2018.
The new management led by Konstantinos Xifaras has already managed to win back some significant clients from rival suppliers by signing contracts which secure the rebound of DEPA’s market share to 40 percent in 2020.
This favorable development in an environment of tough competition in the natural gas wholesale market is the outcome of the renegotiation of contracts with its main suppliers (Gazprom, Sonatrach) and the personalized pricing based on the consumer profiles of its major clients.
DEPA then secured a margin for further improving its commercial policy through the recent decision by international arbitration on its case against Turkey’s Botas concerning the pricing of Azeri gas.
DEPA was vindicated by the verdict, which has a retroactive application from 2011, and company sources say this translates into more than 200 million euros, part of which will be returned to consumers through more favorable contract terms.