The main power utility PPC is intensifying its efforts for a natural gas market entry as an alternative business activity in the wider energy sector to compensate for anticipated losses to result from its disinvestment of lignite units and electricity market share contraction, both required by the bailout agreement.
“The natural gas market is changing rapidly. We also want to enter the retail gas market,” PPC’s chief executive Manolis Panagiotakis told a parliamentary committee yesterday.
The PPC boss made clear the power utility’s intentions to look for alternative supply sources, beyond the gas utility DEPA. An older nine-year supply agreement with DEPA expires on December 31, 2020.
“We are already preparing ourselves for the period beyond the [current] DEPA agreement,” Panagiotakis informed. “LNG has arrived and Azerbaijani gas will soon also be here. We, too, want to connect with these sources. That’s our strategy,” he added.
PPC has also made arrangements to utilize the upgraded LNG terminal on Revythoussa, an islet just off Athens.
PPC ranks as one of the country’s biggest natural gas consumers. The power utility is expected to consume 15.7 million MWh of gas in 2019 to fuel four power stations, Aliveri V, Megalopoli V, Lavrio IV and Komotini. The corporation also requires gas amounts to begin trading in the country’s retail gas market.