Press Release - 03.10.2006

New generation Units by PPC S.A.

PUBLIC POWER CORPORATION S.A.

                                                                         PRESS RELEASE
                                                                       

NEW GENERATION UNITS BY PPC S.A.

In the context of the renovation and replacement programme for PPC's power generation potential, pursuant to Law 3175/03, the company's BoD, in its meeting today, decided to file an application to the Regulatory Authority for Energy/Ministry of Development requesting operating license for a combined cycle natural gas unit of 400 MW power in Megalopolis.
This unit will substitute amongst others two older lignite units of Megalopolis steam electric station of 250 MW total power, which are to be declared inoperative by the end of 2010. The pertinent international Dutch auction for the study and construction of the new unit will be announced in 2007 with prospect of completion in the beginning of 2011.
Within the framework of investments which are being made for the modernization of PPC's power generating potential, a Dutch auction has already been promulgated for the construction of a similar unit in Aliveri expected to be incorporated in the network the summer of 2009.
The works for supplying the Megalopolis and Aliveri plants with natural gas as well as the works for the construction of high voltage transmission lines allow the construction of a second unit of equal voltage, both in Megalopolis and Aliveri.
At the same time, PPC has been promoting procedures and actions which are essential for the development of the new 400 MW lignite unit of modern technology in Western Macedonia. Its incorporation to the network is expected within 2012-2013 and is subsumed under the Law 3175/2003 concerning the modernization of the company's power generating potential.
Through the realization of all these modernization investments, PPC S.A. is bound to achieve considerable improvement of the environmental conditions of its facilities in Megalopoli, Aliveri and Western Macedonia, while a reduction of the production cost is also anticipated thanks to the rather high performance ensured by modern technology power units.

Athens, 3-10-2006                                                                                                        From Press Office

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