For the purpose of providing the investors community with accurate information, PPC clarifies that the reference made in a recent press article to the Operator of the Electricity Market (LAGIE) as “the new subsidiary of PPC” is inaccurate.
It is noted that, pursuant to the provisions of L.4001/2011, and following the spin-off of the PPC Transmission Segment, the company previously named Hellenic Transmission System Operator S.A. (HTSO), which has always been under the control of the Greek State, was transformed to the company named Operator of the Electricity Market (LAGIE), which continues to be under the control of the Greek State and is responsible for the operation of the wholesale electricity market in Greece. Pursuant to the aforementioned Law, the company “Independent Power Transmission Operator S.A. (IPTO)” was established, as a 100% subsidiary of PPC, which, operating as a completely independent company, has assumed the activities of the former HTSO which relate to the development and operation of the National Power Transmission System. IPTO S.A. should and could not be confused with LAGIE S.A.
Athens, May 11, 2012
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