Public Power Corporation of Greece
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|Traded as||Athex: PPC|
|Key people||Arthouros Zervos (Chairman and CEO)|
|Services||Electrical power distribution|
|Revenue||€5.811 billion (2010)|
|Net income||€557.9 million (2010)|
|Total assets||€16.20 billion (end 2010)|
|Total equity||€6.770 billion (end 2010)|
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.
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.
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.
The PPC has committed to buying renewable-source energy from independent producers at five times its selling rate until 2034.
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.
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.
|year||Production (TWh)||Emission (Gt CO2)||kg CO2/MWh|
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.