The alleged violation of competition rules referred to by the Directorate General for Competition of the European Commission concerns a period before the redesign of the Greek electricity market in accordance with the dictates of the EU Target Model (Target Model) but mainly long before the transformation of the company into a modern and sustainable energy company.

This is what PPC points out on the occasion of the Statement of Reasons sent by the Commission today. PPC also notes that:

– The case started with the audit of the PPC offices in February 2017 and the official proceedings started in March 2021. PPC has cooperated with the Commission throughout the case.

– The Commission’s objections relate to the period from July 2013 to December 31, 2019.

– PPC will continue to cooperate with the Commission and take all necessary and necessary measures in order to defend its rights.

– The Statement of Reasons is a step of the investigation and as the Commission emphasizes in its statement, its performance does not prejudge the outcome of the investigation.

The European Commission today informed PPC of its preliminary view that it breached EU antitrust rules by selling electricity on the Greek wholesale market below cost, thereby excluding its main competitors. According to the Commission’s preliminary view, between 2013 and 2019, PPC abused its dominant position in the Greek wholesale electricity market, supplying the electricity produced by its thermal units (lignite and natural gas) at prices lower than the variable their cost.