PPC anticipates positive impact of oil and gas developments

The positive impact of reduced operating costs at PPC (Public Power Corporation) as a result of lower oil prices will show in the company’s fourth-quarter results, CEO Arthuros Zervos has told market analysts following the release of PPC’s nine-month results.

The company gas market-related benefits will positively impact the company’s books in the first half of 2015, he added.

The PPC head told analysts that the sale procedure of PPC subsidiary firm IPTO, the Independent Power Transmission Operator, remained on course while adding that the ratification of a natural gas draft bill was a pending issue for the process. The draft bill contains sector revisions that will need to be implemented for the IPTO sale process to be finalized.

Zervos pointed out that PPC has made important strategic investments, despite troubled economic conditions, while saying that the development of a lignite station in Ptolemaida, northern Greece, ranks as the company’s most important project at present.

The CEO told analysts that concurrent facility upgrading activity being carried out by numerous European electricity companies was limiting PPC’s access to financing availability.

He said that further operating cost reductions remained integral to PPC’s business plan, while also pointing out that the sector’s transition towards a truly liberalized market required transparency and fair rules for all participants.