The main power utility PPC’s market share contraction continued at a slower-than-required pace in May, unofficial data has shown, keeping the utility – and country – well behind on bailout agreement target figures.
PPC ended May with a retail electricity market share of approximately 80.7 percent, a drop of around 1.3 percent compared to April’s 82 percent, the unofficial data showed.
Independent suppliers made just a slight overall gain between April and May.
ELTA (Hellenic Post), holding an electricity supply license, has made sharp gains since its relatively recent entry into Greece’s retail electricity market. ELTA now holds a market share of over one percent, up from 0.78 percent in April.
Additional electricity amounts to be offered to independent suppliers through NOME auctions are scheduled to be determined this month, during a review of the auctions, as a bailout-related penalty prompted by PPC’s failure to meet its market share contraction targets so far.
NOME auctions were introduced in Greece nearly two years ago to offer independent players access to PPC’s lower-cost lignite and hydropower sources.
According to the bailout, PPC’s market share needs to fall to 62.24 percent by the end of this year, now seen as an impossible feat. The power utility’s market share was supposed to have fallen to 75.24 percent by the end of 2017 but ended the year more than ten percentage points over the target. A 49.24 percent target has been set for the end of 2019.