Sustainable Development

GRI 100

It should be noted that the published indices for 2021 have not been finalized yet and they might change, as the final internal confirmation and the independent limited assurance from an external consultant are still in progress. Any changes that might arise will be clearly indicated (including what changed and when).

GRI 102-5 Ownership and legal form

Ownership and Legal form                                                       Societe Anonyme

Legal form and ownership of your company                       shareholder structure    


GRI 102-7 Scale of the organization


All Financial Amounts in Thousands of Euro

Total liabilities and equity


Total liabilities


Total equity


Financial income


Financial expenses


Profit (loss) before taxes


Long-term loan liabilities


Short-term loan liabilities






Total number of employees 31.12


Female employees


Number of employees with a collective labor agreement (%)

6,483 ( 98.0% )





Installed capacity (ΜW)


Net energy generation (GWH)


Market share (average annual)


Percentage of total installed capacity in Greece


Production Share (average annual)


Electricity sold (annually) to final consumers (TWh)






Category of primary energy source

Installed capacity (MW)



Natural gas


Fuel Oil










Category of primary energy source

Net energy production (GWh)



Natural gas


Fuel Oil







GRI 102-8 Information on employees and other workers

Total number of employees: 6,634    

Female  employees : 1,916      

Male employees: 4,718    

% of female employees out of total employees  28.9%

Number of employees with a collective labor agreement (%)*: 6,483 - 98%

*Permanent personnel including executives with a 3-year fixed-term contract.


GRI 102-13 Membership of Associations

Association Of Corporate Counsels (ACC DOCKET)
Bioenergy Europe
Conseil International Des Grands Reseaux Electriques (CIGRE)
Comité International des Cheminées Industrielles (CICIND)
European Coal Combustion Products Association (ECOBA)
Eurocoal Association For Coal And Lignite (EUROCOAL)
European Association For Storage Of Energy (EASE)
European Energy Forum (EEF)
European Federation Of Energy Traders (EFET)
European  Heat Pump Association
Global Gas Center (GGC)
IEEE Power & Energy Society
Information Systems Audit And Control Association (ISACA)
Materials Research Society
Project Management Institute
Technische Vereinigunge Der Gross Kraftwerks Betreiber (V.G.B.)
The PM2 Alliance
Annual contribution to the Greek CIGRE Committee
Transparency International–Greece (through this, inclusion of PPC SA in the BIF program)
Arab-Hellenic Chamber of Commerce & Development
Hellenic Association for Energy Economics (HAEE)
Hellenic Laboratories Association (HELLASLAB)
Hellenic Network for Corporate Social Responsibility (CSR HELLAS)
Hellenic Logistics Association (HLG)
Greek Committee on Large Dams (GCOLD)
Greek Tunnelling Society (GTS)
Hellenic Institution of Customer Service
Greek Institute of Entrepreneurship & Sustainable Development
Hellenic Institute of Internal Auditors (HIIA)
Hellenic Purchasing Institute(ΕΙP)
Hellenic –American Chamber of Commerce
Bulgarian Hellenic Chamber of Commerce and Industry (BHCCI)
British Hellenic Chamber of Commerce
German Hellenic Chamber of Industry and Commerce
Hellenic Italian Chamber of Commerce
Athens Chamber of Commerce & Industry (ACCI)
Hellenic Adult Education Association (HAEA)
Institute of Energy for Southeast Europe
Centre of International &European Economic Law (CIEEL)
Panhellenic Network of Professional Data Protection Officers (DPO NETWORK)
Council for Sustainable Development at the Hellenic Federation of Enterprises (SEV)
Association of Regulatory Compliance Professionals of Greece (SEKASE)
Association of Greek Commercialists
Hellenic Federation of Enterprises (SEV)
Hellenic Electricity Companies Association
(Including the subscription to EURELECTRIC which is settled by the Hellenic Electricity Companies Association
Greek Mining Enterprises Association
Youth Entrepreneurship Association (YEA)  


GRI 102-15  Key impacts, risks, and opportunities

The Company has defined risk as a set of uncertain and unpredictable circumstances that may have an overall adverse effect on its business, operations, financial performance, or operating results, as well as on the implementation of its strategy and the achievement of its objectives.

Since its establishment in November 2020, the Risk Management Department (RMD) is entrusted with the mission of shielding the Company against internal and external risks arising from the performance of its business, through the centralized monitoring and coordination of the management of exposure to these risks. The Risk Management Department (RMD) is responsible for developing and implementing an appropriate risk management system in line with the Company's risk management policy
Within the framework of the Risk Management system, the Risk Management Committee was established by a decision of the Board of Director. The RMD has Risk Oversight over all the Company's activities and contributes to the development of the Corporate Risk Management Framework, the monitoring, and the reporting of significant Corporate Risks. Operating within the above framework, the Company demonstrates its commitment to establishing a business environment that not only respects and complies with legality, but also enhances the value of the company, thereby ensuring its good reputation and reliability.

The Risk Management Committee provides Risk Oversight to all of the Company's activities and contributes to the development of the Corporate Risk Management Framework, the formulation of relevant Policies and methodologies, the monitoring and reporting of significant Corporate Risks and makes decisions regarding the assessment and management of these risks in accordance with a) the Corporate Risk Management Framework and b) the Risk Management Policies.

The RMD is part of the second line of defence of the internal control system and reports directly to the CEO, in order to perform its duties in an objective and independent manner without being influenced by the Company's Units.

In this context, the Risk Management Department is responsible for the development and maintenance of a risk management system through which all corporate risks are identified, assessed and prioritized, and subsequently the strategy to address them is developed and monitored. In addition, the Risk Management Department updates the Company's Risk Register and contributes to the development of risk management policies and procedures. Further to the above, a project to identify, assess and prioritize corporate risks is underway, under the responsibility of the RMD and with the assistance of a specialist consultant.

Risk Assessment is the extensive exercise of a thorough review of the daily activities of each business area in order to identify the factors that may cause any kind of damage or introduce uncertainties in the achievement of the objectives of the Company, and to quantify the magnitude of the impact and the likelihood of its occurrence.

This exercise enhances the Company's awareness of the various risks and enables Management to make decisions on the strategy to address (accept, avoid, mitigate, or insure against) each of them.

Upon completion of the project, the company will be able to:
- Update its Risk Register.
- Identify the risk appetite for each key risk
- Develop risk mitigation plans where necessary
- Select the most appropriate indicators (KPIs) to monitor the level of risk through standardised reporting.

The risks identified and faced by the Company include, but are not limited to:

1. Risks related to the business activities of the Group and the Parent Company.
- Risks related to failure to implement the strategies and business plan
- Risks related to the medium to long-term financial performance
- Risks related to fluctuations in fuel prices, CO2 emission rights and electricity prices
- Risk of exposure to competition on the Wholesale Market and the Electricity Market
- Risks associated with operating in a capital-intensive business sector and a significant increase in capital investment 
- Pricing risk for competitive activities
- Risks related to the Group's relationship with industrial customers and the expansion of its activities
- Risks related to climate change
- Risks related to climatic conditions and seasonal variations
- Risks related to sustainability obligations and targets
- Risks related to the efficient performance of the equipment and electricity and natural gas distribution networks
- Risks related to default or delay by counterparties (partners, contractors, subcontractors, and suppliers) as well as by financial institutions
- Risks associated with delays in the construction or connection of the power and heat generation facilities
- Risks related to extraordinary events
- Risks arising from the non-insurance of fixed assets
- Risk related to the operation, management and generation capacity of the Non-Interconnected Island Network (NIS)
- Risk related to the recruitment and retention of qualified staff
- Risk of possible industrial action
- Risks related to the security of Information Systems

2. Risks related to macroeconomic conditions in Greece and the European Union
- Risks related to adverse developments in the global and Greek economy
- Risks related to the impact of pandemic COVID-19
- Risks related to European economic and geopolitical developments

3. Risks related to the regulatory and legal framework
- Risks related to the complex and uncertain regulatory framework in Greece and the EU
- Risks related to uncertain or unexpected decisions by state or regulatory authorities
- Risks related to regulatory interventions and/or procedures related to position and share in a former monopoly market
- Risks related to the former inclusion of PPC in the public utilities
- Licensing rights risks
- Risks related to health, safety and environmental laws and regulations
- Risk of deficit in the RES Special Account
- Risk related to the provision of Public Service Obligations (PSOs)
- Risk of non-compliance with the European Union's General Data Protection Regulation ('GDPR')
- Risk of pending litigation

4. Risks related to the financial situation, financial results, and financing
- Credit risk
- Liquidity risk
- Credit rating risk
- Risk from tax and other regulations
- Risk of contingent liability for insurance obligations
- Interest rate and currency risk
- Asset impairment risk
- Risk related to loan covenants
- Leverage risk

Extraordinary Events
Extraordinary events, including natural disasters, fires, war, acts of terrorism, strikes, etc., may result in damage to or disruption in mining operations and power generation, transmission, and distribution activities. In addition, adverse macroeconomic developments and financial and/or operational problems of key suppliers, service providers, contractors, etc. may adversely affect the Company's supply of liquid fuels, materials, and spare parts and may increase its operating costs.

The Company's activities involve risks of accidents and employees, or third parties may suffer injury or death as a result of such accidents. In particular, while the Company believes that its equipment is designed and manufactured in a satisfactory manner and is subject to rigorous quality controls, quality assurance testing and its condition are in compliance with the standards and regulations applicable to occupational health and safety, their design and manufacturing processes are entirely controlled by suppliers, manufacturers and contractors and not by the Company and there can be no assurance that there will be no accidents during operation.

In addition, the effects of the above may pose significant and long-term risks to the environment due to pollution and may pose a health risk or nuisance to residents of neighboring areas. The Company may be required to pay damages or fines, remedy environmental damage or cease operation of power plants in order to comply with environmental, health and safety regulations.

The Company may also face claims for civil liability or fines in the ordinary course of its business as a result of damages to third parties caused by natural and man-made disasters, as mentioned above. These liabilities may result in the payment of damages in accordance with applicable laws.


GRI 102-16 Values, principles, standards, and norms of behavior

Code of Conduct
Policy against violence and harassment at work 
Enforcement Policy and Reporting
Complaint Handling Procedure
Anti-corruption and Anti-Bribery Policy
Sustainable Development Policy


GRI 102-18 Governance structure

Financial Report FY2021, pp. 66 – 125


GRI 102-35 Remuneration policies

Remuneration policy


GRI 102-41 Collective bargaining agreements

Total Human Resources covered by Collective Labor Agreements 6,483

Number of employees with a collective labor agreement (%) 98%

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