PPC ’21 operating profit virtually unchanged at €800-850m

Power utility PPC is headed for an operating profit of between 800 and 850 million euros for 2021, marginally below the previous year’s level, despite the impact of the energy crisis on outlays in the third quarter, the corporation’s administration has informed analysts during a presentation of results for the nine-month period.

PPC’s outlays for natural gas, energy and CO2 emission right purchases rose by an overall 629 million euros in the first nine months, to a level 37 percent higher than the total registered for the equivalent period in 2020, PPC officials reported.

Natural gas outlays were up 119.8 percent, reaching 452.7 million euros from 206 million euros.

PPC’s outlays for liquid fuels increased by 14.7 percent in the first nine months to 410.2 million euros, compared to the equivalent period in 2020, as a result of higher prices for mazut (8.9%), diesel (8.4%) and increased generation powered by liquid fuels.

The corporation’s CO2 emission right outlays surpassed all other expenses, reaching 539.4 million euros in the nine-month period of 2021 from 263.1 million euros during the same period a year earlier.