Public Power Corporation of Greece

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Public Power Corporation S.A.
Δημόσια Επιχείρηση Ηλεκτρισμού Α.Ε.
Type Anonymi Etairia
Traded as Athex: PPC
Industry Electricity
Founded 1950 (1950)
Headquarters Athens, Greece
Key people Arthouros Zervos (Chairman and CEO)
Products Electric power
Services Electrical power distribution
Revenue 5.971 billion (2013)[1]
Net income 1.002 billion (2013)[2]
Total assets 11.151 billion (2013)[3]
Total equity 5.682 billion (2013)[4]
Website www.dei.gr

The Public Power Corporation S.A. (Greek: Δημόσια Επιχείρηση Ηλεκτρισμού; ΔΕΗ) is the biggest electric power company in Greece. It is controlled to an extent by the government.

History[edit]

PPC was founded by the Greek government in 1950. Its main purpose was to plan and apply a national energy policy which, through the exploitation of the domestic products and resources, would distribute cheap electric power to all the Greek citizens. PPC started the integration of all the small local grids to the national interconnected grid. Furthermore, the corporation resolved the purchase of all the small private and local electric power production units.

Throughout these years, PPC strived for the country's energy autonomy, while accomplishing the most significant project of supplying the 99% of Greece with electricity. At the same time, PPC became one of the biggest heavy industries of the country. Electrical power was supplied throughout the country, from the most remote island to the most isolated village on the Greek mountains.[5]

Today, PPC Group consists of 4 subsidiary companies PPC or DEI S.A., HEDNO or DEDDIE S.A., IPTO or ADMIE S.A. and PPC RENEWABLES S.A. [6]

Economy[edit]

In 2001, PPC issued stock and is no more wholly owned by the government, although it is still controlled by it with a 51.1% stake.[citation needed]

In June 2011, the Greek government announced to sell 17% of its share of PPC to meet conditions of loan package. The workers of PPC responded by limited power cuts to selected towns across Greece.[7]

Renewable energy[edit]

PPC has developed the first Wind Farm in the world, combined with a Photo-voltaic Station to supply electricity to the isolated power system of the island of Kythnos in 1982. [8]

The PPC has committed to buying renewable-source energy from independent producers at five times its selling rate until 2034.[citation needed]

Legislation before Parliamnet in 2013-14 included making the PPC responsible for collection of the real estate tax, part of the EU/IMF/ECB requiremenst for the financial support of the economy.[citation needed]

Power plants[edit]

The 34 major thermal and hydroelectric power plants and the 3 wind farms of the interconnected power grid of the mainland, as well as the 60 autonomous power plants located on Crete, Rhodes and other Greek islands (33 thermal, 2 hydroelectric, 18 wind energy and 5 photovoltaic parks) form PPC's industrial assets and constitute the energy basis of all financial activities of the country.[citation needed]

The total installed capacity of the 97 PPC's power plants is currently 12,760 MW with a net generation of 53.9 TWh in 2007.[citation needed]

Carbon intensity[edit]

year Production (TWh) Emission (Gt CO2) kg CO2/MWh
2002 49 51.35 1050
2003 52 52.41 1004
2004 53 53.29 1015
2005 53 52.59 994
2006 52 50.48 969
2007 54 53.04 984
2008 52 52.2 996
2009 50 49.7 992

Mining areas[edit]

PPC has mining areas within power plants. The power plants produce electricity and power from lignite, other plants use coal. The largest mining areas are located between Kozani and Ptolemaida, around Amyntaio in the Florina prefecture and around Megalopolis.[citation needed]

References[edit]

External links[edit]