Protergia, Germanos deal to reshape power retail market

A strategic partnership established by two of the country’s largest corporate groups, OTE (Hellenic Telecommunications Organization) and the Mytilineos Group, a leading independent energy producer in Greece, promises to reshape the local retail electricity market.

The deal, just announced and to come into effect within July, brings together Mytilineos Group subsidiary Protergia, Greece’s biggest private-sector energy producer with a portfolio measuring over 1,200 MW, and the wholly-owned OTE subsidiary firm Cosmote, the country’s leading mobile telephony retailer, which controls the extensive network of Germanos and Cosmote retail outlets around Greece.

The two firms plan to offer customers competitively priced electricity packages. Protergia products will be available at Comsote and Germanos outlets within July, the partners noted.

On the strength of this strategic agreement for the retail electricity market, Cosmote and Germanos retail outlets promise to enhance their range of services offered to customers, while, at the same time, Protergia will bolster its retail presence and promotion of products through over 450 Cosmote and Germanos outlets around Greece, the partners announced in a joint statement.