Public Power Corp or PPC is mulling a business plan which aims at turning the company into health and preparing it for the new conditions of the fully-deregulated energy market, PPC chairman and ceo told at the company’s annual shareholders meeting on Friday.
Mr Athanasopoulos referred to the company’s main points of its new business plan which will be announced in October and hinted at the upcoming automated tariff adjustments based on current fuel prices.
Mr Athanasopoulos said that if there were automated tariff adjustments, PPC would have not suffered from the sharp rise in fuels, which lead to losses in its financial performances the last two years.
PPC is state-controlled with the state’s direct and indirect stake exceeding 51%, and the tariff regime is imposed by the government.
Mr Athanasopoulos also said that PPC plans to substitute or modernize its existing old production units, in a bid to reduce gas emissions, following a reprimand by the European Commission.
PPC also aims at securing an over 20% share in the renewable energy sources market by 2012.
Public Power Corp or PPC received its shareholders approval late Friday for the distribution of a EUR0.16 dividend per share.