PPC counting on three extra revenue sources for financial rebound in 2019

The main power utility PPC will be counting on three sources promising additional revenues worth well over 400 million euros for a return to profit territory in 2019, as was recently forecast by the utility’s CEO Manolis Panagiotakis.

PPC will be spared of its supplier surcharge contribution to the RES special account in 2019 as this obligation has been cancelled for all suppliers. PPC provided 196.3 million euros of supplier surcharges in 2018. In addition to this favorable development for PPC, the power utility also stands to receive 100 million euros in returns from the RES special account, the lion’s share of a 121 million-euro surplus in 2018.

Moving on from the supplier surcharge-related benefits, PPC can look forward to additional revenues of roughly 60 million euros as a result of its decision to reduce a punctuality discount offered to consumers paying their electricity bills on time to 10 percent from 15 percent.

PPC can also anticipate roughly 200 million euros from public service compensation (YKO) returns planned for this year.

On the downside, PPC faces higher CO2 emission right costs. They ranged from 14.48 to 25.57 euros per ton last year and have escalated to levels between 18.94 and 27.53 euros so far this year.