PPC looking for wider support in quest for free CO2 emission rights

The main power utility PPC’s chief executive Manolis Panagiotakis has spent the past few days in Brussels for talks with various authorities as part of an effort to gain free CO2 emission rights for electricity producers in Greece.

The prospect, viewed as one of major significance at PPC, will be difficult to achieve, especially following a move made by seven major European electricity companies seeking the adoption of even more ambitious emission targets, which would further limit the supply of CO2 emission rights.

Responding to this move, the PPC chief has sought support from Eurelectric, the Union of the Electricity Industry.

A high level of competition exists in the EU electricity sector, while new partnerships are regularly being established, each based on varying factors and terms. Given the heightened activity, PPC may well end up with more partners by its side.

Greece’s recently enforced new RES support framework could provide needed support to the PPC chief’s challenging mission. According to sector authorities, the framework, endorsed by the the European Commission just a few days ago, may help the country achieve its CO2 emission targets, which have been set in accordance with EU energy and climate change objectives.

According to data published by LAGIE, the Electricity Market Operator, for the month of October, lignite-fired power stations provided 23.55 percent of Greek electricity production, down from 24.64 percent a year earlier. Petrol-fueled units contributed 1.68 percent, down from 3.86 percent in October of 2015. The contribution level of natural gas-fueled power stations remained steady at 28.4 percent. Hydropower unit contribution rose to 18.55 percent from 17.55 percent, while renewable energy (RES) facilities contributed 28.12 percent last month, up from 25.36 percent a year earlier.