Greece: Core profit for PPC

5. June 2020. / SEE Energy News

Due to the coronavirus pandemic and impact on drop in energy costs, Greek state-controlled Public Power Corporation (PPC) said that it recorded a core profit in the first quarter of the year.

PPC said that its earnings before interest, tax, depreciation and amortization (EBITDA) amounted to at 182 million euros, compared with a core loss of 66.3 million euros in the same period last year.

Despite lower electricity demand during a lockdown that Greece imposed to stop the spread of the coronavirus, PPC benefited from lower fuel, natural gas and carbon emissions costs for its plants.

PPC, which provides some 60 % of Greece’s electricity, has seen its finances suffer in recent years and still has more than 2.7 billion euros in unpaid bills owed by customers who struggled during the country’s economic crisis.





Download as PDF :

Download PDF