A business plan to shape the main power utility PPC’s future includes new initiatives, broader geographical reach, as well as partnerships with both private and public-sector enterprises, the objective being to establish new revenues and activities that may cover the corporation’s bailout-required market share contraction in the electricity market, its core business.
Though PPC will continue to focus on energy as its main business domain, the corporation intends to also utilize its established brand name to enter new markets.
PPC’s retail electricity market share needs to fall to less than 50 percent by 2020, according to the bailout, while a European Court verdict requires the utility to sell 40 percent of its lignite-fired power units.
The power utility’s administration, in an official description of the company’s objectives, is aiming to develop from an electricity producer and trader to an enterprise offering combined energy packages and services. An announcement of more specific initiatives is soon expected.
PPC’s new business plan, now in the making, includes at least eight initiatives, to be pursued either as joint ventures or through the creation of SPVs (special purpose vehicles).
These initiatives include penetration of the Greek natural gas market, both on the mainland and islands; development of energy-saving products and services; specialized maintenance and repair services for electricity generating equipment such as wind turbines and generators; management and construction monitoring services for energy projects abroad, with partners; development and implementation of energy storage systems, especially on the islands; penetration of the electric car market; greater penetration of the renewable energy market and entry into domains such as geothermal and biomass; and a reinforced presence in neighboring foreign markets, through subsidiaries, for selected energy projects.