EU okays Greek measures allowing PPC rivals access to electricity

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BRUSSELS — EU competition regulators on Friday gave the green light to Greek measures allowing rivals of PPC access to electricity after an investigation found that the Greek power utility’s exclusive access to lignite-fired generation gave it an unfair advantage.

The European Commission said PPC will sell quarterly forward electricity products on the organized exchanges of the European Energy Exchange (EEX) and the Hellenic Energy Exchange (HEnEx), allowing PPC rivals to source wholesale electricity on the forward market and hedge against price volatility.

PPC will obtain a net seller position on EEX and/or HEnEx, ensuring that sufficient volumes of wholesale electricity are made available to competitors.

The EU antitrust enforcer said the proposed remedies will lapse when existing lignite plants stop operating commercially, currently expected by 2023 or at the latest by December 2024. (Reporting by Foo Yun Chee)