Investor Relations - 24.11.2016

Answer to the Capital Market Committee

                                                                     Announcement

 

Following a relevant question by the Capital Market Committee, PPC S.A. clarifies that:

Pursuant to the provisions of Laws 4414/2016 and 4427/2016 a charge was established, with respect to the Special Account for RES and Cogeneration in the Interconnected System and the Network. This new charge is impacting electricity suppliers for the total load that they absorb from the wholesale market in the Interconnected System and is being allocated based on their retail market share. According to the last Monthly Report for the Special Account for RES and CHP for October 2016, which is available at  LAGIE’s website (http://www.lagie.gr/systima-eggyimenon-timon/ape-sithya/miniaia-deltia-eidikoy-logariasmoy-ape-sithya/), the abovementioned charge is estimated at € 34 m for the last quarter of 2016 and at € 372 m for 2017. The corresponding impact on PPC’s financial results based on its estimated average retail market share for the last quarter of 2016 and for 2017, according to the estimated market share loss of PPC as mentioned in Law 4389/2016, is estimated at approximately € 30 m and € 300 m respectively.

It is noted that, until today, PPC has already paid to LAGIE an amount of € 16.6 m which corresponds to the relevant charge for 2016.

 

Athens, November 24, 2016

 

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