Power utility PPC needs to move fast this month with its offering of lignite-fired electricity packages to rival suppliers as part of a recent antitrust agreement reached between the energy ministry and the European Commission.
According to the agreement, PPC must market lignite-fired electricity packages for the first, second and third quarters of 2022 by October 31, either through the European or Greek energy exchange.
The three packages also face imminent sale deadlines. All transactions for electricity quantities offered to PPC’s rivals through the first package will need to be completed by the end of November, while transactions for the 2Q and 3Q packages must be done and dusted by December 31.
As for the quantities to be offered, PPC’s 1Q and 2Q lignite-fired packages must total 872 and 515 GWh, respectively. The power utility’s 3Q package will need to offer rivals 50 percent of the company’s lignite-fired power generated in the third quarter this year.
According to data provided by power grid operator IPTO, PPC’s lignite-fired power stations produced 1,081 GWh in July and August, while September’s output has been estimated at 370 GWh.
Given these figures, totaling 1,451 GWh, PPC will need to offer a lignite-fired package of 725 GWh for the third quarter next year, taking the total offering for 1Q, 2Q and 3Q in 2022 to just over 2,100 GWh in futures contracts that must be marketed through either of the two aforementioned exchanges by the end of this month.