ELTA (Hellenic Post) expects to have entered the electricity supply market within the next few months, the company’s chairman and managing director, Kostas Melahrinos, announced today.

Greece’s electricity market is being opened up to competition as main power utility PPC’s overbearing market share must be reduced to 50 percent by 2020, based on a bailout demand.

ELTA plans to submit its application for an electricity market operating permit to RAE, the Regulatory Authority for Energy, within November and hopes the bid will be endorsed by the end of that month as a lead-up to the company’s entry into the Greek electricity market in December.

The company plans to utilize its existing network of 1,500 outets and post offices and offer one package for all electricity consumers throughout the country, Melahrinos noted. The pricing policy had not yet been determined but will be beneficial for consumers, he added.