Regarding fuel prices, Mr. Siamisini said that the possibility of intervention by companies is limited, as the margin at the commercial level is very small, below 5% of the price at the pump
“Endurance and patience” recommended the CEO of their group Hellenic Petroleum, Andreas Siamisis, speaking today in the context of the general meeting of shareholders on the energy crisis, which as he stated “is not going to end next month”.
“We understand the weight that the increase in fuel price and electricity and we have seen initiatives that will alleviate the burden on consumers. The possibility of intervention on the part of companies is limited, as the margin which we have in commercial level is very small, below 5% of the price of the pump “stressed Mr. Siamisis.
Regarding electricity noted that prosecuting companies that generate electricity, either through public speaking or taxation, is something we need to think about twice.
“Since 2003, the group’s subsidiary, Elpedison, has not given a single euro dividend,” he said.
“There is a lot of pressure, but there must also be logic that covers adequacy. Energy will always have an impact on international markets. Since our choice is the green economy, this is one of the necessary costs to consider. We need to keep the system, society and consumers alive in order to get through this difficult period that places very high demands on everyone, consumers and businesses. “
In relation to the prospects of 2022, from the position of Mr. Siamisi, the following emerges:
- In the next 1-2 months there will be developments in relation to the participants in the hydrocarbon exploration in Crete (after the departure of the French Total). “The discussion is ongoing, at the same time it closes a cycle in which the investigations should have proceeded, while we should also see the result of the appeals to the Council of State”, said Mr. Siamisis. “We are committed to doing what is required to determine whether there is an exploitable deposit in Greece, with the highest possible level of environmental protection.”
- At the end of July and the beginning of August, an extraordinary general meeting of shareholders will be convened to approve the new corporate identity and name of ELPE.
- The implementation of the Vision 2025 restructuring plan is proceeding according to plan and in some places faster. The strategy of expansion in renewable sources will be accelerated, with emphasis on the development of new parks that are essential for the energy transition, but also with acquisitions at an economic price in Greece and abroad. Over the next 3-5 years, investments of more than 2 billion Euros are planned, of which more than half will be for renewable sources.
- In the next period, within the year or later, the company will return to the markets with a bond issue.
- In the coming weeks, we hope to complete the sale of DEPA Infrastructure, which will allow the return of capital of 0.42 euros per share to shareholders, in addition to the dividend for the previous year which was a total of 0.4 euros. On the contrary, there is uncertainty about the outcome of the tender for DEPA Commerce, which started 3 years ago.
- Also in the coming weeks it will be decided whether or not to proceed immediately with the construction of a new power plant with natural gas in Thessaloniki, for which studies have matured.
“We have prepared a complete plan for the evolution of the group amid unprecedented challenges, so that ELPE can play a leading role in the next 30 years,” said the president of the company, Giannis Papathanassiou. He added that the new group identity will indicate the transition of ELPE to the new era.
