Independent electricity retailers vying to capture a share of power utility PPC’s dominant hold of the market are beginning to gain some ground, driven by intensified efforts, as indicated by their advertising campaigns now in full swing. Based on bailout agreement demands, PPC’s market share must be reduced to 50 percent by 2020.
Official market data obtained by energypress showed that independent electricity suppliers had captured a combined market share of 5.7 percent at the end of September. This represents the first time rival companies have begun chipping away from PPC’s overbearing position since a preceding effort a few years ago by two now-defunct retailers, Energa and Hellas Power, which ended in financial scandal for the two.
The electricity retail market data for the end of September showed that Heron has captured a 1.9 percent share, followed by Elpedison with 1.6 percent, and Protergia with 1.2 percent. A group of smaller companies – Green, Voltera, Watt + Volt, and NRG – share one percent of the market.
Independent electricity retailers are forecast to have captured approximately seven percent of the Greek market by the end of the year.