Greek Ministry of Energy announced that the country has agreed to sell coal-fired thermal power plants and coalmines equal to about 40 % of total coal-fired capacity of Public Power Corporation (PPC). The agreement is a part of a bailout deal reached between Greece and its foreign creditors.
Under the third bailout agreement signed in 2015, Greece has agreed to cut PPC’s dominant position in the retail electricity market to below 50 % by 2020. The country also introduced NOME auction in an attempt to allow third party access to PPC’s low cost lignite-fired and hydropower electricity generation. But the creditors remained adamant that PPC has to sell a fraction of its coal-fired capacity, even more after a European court ruled last year that PPC had abused its dominant position in the country’s coal market.
Full article available for subscribers of Energy NEWS service (PDF publications, energy news, analyses, power and trading data, tenders)
Subscription fee: 800 EUR annually – company licensed
Tags: bailout agreement, coal, DESFA, electricity, Greece, PPC, sale, Tender, thermal, TPP