Power utility PPC to delay gas market entry until next year, upbeat on plan

The main power utility PPC has decided to defer until next year its planned entry into Greece’s natural gas market, the lack of market clarity caused by the pending privatization of gas utility DEPA and the subsequent gas market changes expected to be prompted being a key reason.

PPC views its plan to enter the natural gas market as a key strategy that will help offset revenue losses anticipated through its bailout-required market share contraction in the retail electricity market.

Despite the delay, PPC remains confident of a successful entry into the natural gas market once the move is eventually made. Robust performances by power companies entering natural gas markets in other European territories have raised PPC’s expectations of success.

Also, PPC officials believe the loyalty shown by the power utility’s customers in the electricity market will be carried across into the gas market. Combined electricity-gas packages are being planned by the utility.

PPC has already received a business plan prepared by a consulting firm for its gas market entry.