Greece, PPC recorded a loss of 8.9 million euros in 2022

, SEE Energy News

Greek Public Power Corporation (PPC) recorded earnings before interest, taxes, depreciation and amortization (EBITDA) in the amount of 953.7 million euros in 2022, an increase of 9.4 % compared to the previous year, and a net loss of 8.9 million euros, compared to a loss of 18.4 million euros in 2021.

The company recorded increased operational profitability in 2022, despite the large increase in operating expenses, mainly in expenses for energy purchases and for natural gas. In Q4 alone, EBITDA amounted to 309.4 million euros, compared to 245.3 million euros in Q4 2021.

Investments totaled 686.2 million euros, compared to 437.9 million euros in 2021 and were distributed mostly to the distribution grid and renewable energy sources.

PPC’s average retail market share dropped to 62.4 % in 2022, from 64.3 % a year before. PPC’s electricity generation and imports covered 37.2 % of Greek total consumption in 2022, compared to 43.7 % in 2021.

Electricity generation of large hydropower plants decreased by 1,289 GWh year-on-year and amounted to 4,005 GWh in 2022, which is close to the average in the past five years.

Natural gas- fired electricity generation dropped by 2,364 GW, while lignite-fired generation increased by 177 GWh. RES electricity generation (including large HPPs) increased by 6.2 % or 1,382 GWh year-on- year. Electricity imports increased by 7.3 % or 618 GWh.

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