Investor Relations - 09.09.2016

Memorandum of Understanding between DEPA and PPC

                                                                 Announcement

 

PPC SA announces that, on Thursday, September 8, 2016, PPC and DEPA signed a Memorandum of Understanding  (MoU) on the supply of natural gas to islands and other regions/consumers that are far from the National Natural Gas System (NNGS).

DEPA’s strategic goal is the maximum possible extension of natural gas use and the diversification of its activities. On this basis, DEPA intends to develop a new activity relating to the supply of regions and consumers that are far from the NNGS, aiming primarily to the supply of Western Greece and islands, where no networks are available, as well as individual consumers, who are not close to existing networks. These regions/consumers will be supplied with liquefied and/or compressed natural gas.

Under the new conditions that are shaping up in the electricity market, PPC’s strategic direction is the expansion of its business activities in other areas and products, with Natural Gas being a significant opportunity, especially in the non-interconnected islands where natural gas penetration can be supported through its own autonomous thermal generation.

Within the framework of this MoU, both companies will jointly examine the possibility and the framework for cooperation in this area, as well as the supply of combined energy products at a local level.

This cooperation will be realized in full compliance with European and National law of fair competition with the participation of companies from the private sector.

 

Athens, September 9, 2016

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