Commission to investigate PPC for potential breach of EU antitrust policy

The European Commission informed the Greek electricity provider Public Power Corporation (PPC) on Wednesday of its preliminary view that PPC has breached EU antitrust policy by selling electricity in the Greek wholesale market below cost, thereby excluding its main rivals.

PPC is Greece’s primary provider of both retail and wholesale electricity, with significant minority stakes held by the Greek State. Before 2021, the majority of the company was state-owned. From 2013 to 2019, PPC held control over all lignite and hydroelectric capacity, along with a portion of natural gas and renewable energy generation facilities. 

The Commission expressed concern that PPC “abused its dominant position on the Greek wholesale electricity market by supplying the electricity generated by its thermal plants at prices below their variable costs.”

The potential consequences on the Greek wholesale electricity market include the marginalization of independent power providers and the discouragement of investment in greener energy sources.

“PPC’s conduct may have led to higher prices for Greek consumers, as well as higher emission levels of local pollution,” added the statement.

If the Commission’s preliminary view is confirmed, it would signify that PPC has violated Article 102 of the Treaty on the Functioning of the European Union, which prohibits the abuse of a dominant position.

“The sending of a Statement of Objections does not prejudge the outcome of an investigation,” concluded the statement.