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Politics

Greece’s Power Company Comes Back to Become Regional Energy Player

ATHENS – Greece’s state electricity company, the Public Power Corporation (PPC) has rebounded from near bankruptcy to become a regional influencer in the field, Prime Minister Kyriakos Mitsotakis said at the Eurelectric conference Lights On.

He hailed its comeback after being saddled with unpaid bills to draw interest from investors after seeing price swings on the Athens Stock Exchange that rose to a high of 12.06 euros ($13.06) and lows of 10.91 euros ($11.81) per share.

“Given that Public Power’s share is fairly volatile (i.e. its price movements are magnified relative to the rest of the market) this could mean the price can sink lower, giving us an opportunity to buy later on,” said the site Simply Wall Street.

https://simplywall.st/stocks/gr/utilities/ath-ppc/public-power-shares/news/should-you-think-about-buying-public-power-corporation-sa-at-2

Mitsotakis underlined PPC’s success story and referred to the government’s intention to play a leading role in the country’s energy transition at European level, already boosted by liquefied natural gas (LNG) export prospects.

“Foreign investors have regained their confidence in the country,” he said at the event, reported the business newspaper Naftemporiki, adding his government is moving to develop sustainable energy sources and get away from coal-fired plants.

https://www.naftemporiki.gr/english/1668187/mitsotakis-underlines-ppcs-success-story-greece-to-play-leading-role-in-energy-transition/

He pointed to the offshore wind development plan with the Aegean Sea having strong potential especially and said that, “The energy transition is an important opportunity for Greece,” which has abundant wind.

“We have rich solar and wind potential, these sources can become the backbone of a completely different system,” he said about strong interest expressed in the sector and emphasized Greece can become an exporter of “green” electricity.

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