References in press articles concerning alleged profits made by PPC at the NOME auction yesterday and in particular amounting to 14 million euros, are far from reality.
For one more time, despite the rise in the auction compared to the starting price, PPC will bear losses in the order of 8 million euros, since instead of selling these electricity quantities at the System Marginal Price, it will do it at a much lower price.
It is noted that even at these prices, private suppliers buy electricity with a 15% discount compared to PPC, which is more than sufficient for stimulating competition, as long as they pass such difference on to their customers.
Therefore, press reports such as “larger electricity quantities should be made available through NOME auctions so that the price will drop further”, have no ground.
Athens, July 20, 2017