Greece, Extra profit of electricity producers 600 million euros, SEE Energy News
The extra profit of Greek electricity producers during the current energy crisis, in the period between October 2021 and March 2022, reached 600 million euros, of which 80% is the profit of PPC, the dominant player in the market, according to energy regulator RAE .
The report was forwarded to Energy Minister Costas Skrekas last Friday, and concerns vertically integrated energy groups active in the production and supply of electricity.
Most of this additional profit was used by energy companies to avoid further price increases for consumers, RAE notes.
Officials estimate that energy companies have targeted about 400m euros to support pricing policies, meaning a net profit of 200m euros.
The government in Athens has announced that it will introduce a 90% tax on extra profits, but the details of this plan are not known.
The funds raised will be used to support current subsidies to consumers.