Public Power Corporation SA (PPC), Greece’s largest electricity company, will increase hydroelectric production at its storage reservoirs to lower water levels. High inflows “following the heavy rainfall of the last few days, combined with the already high water reserve levels for the time of the year, give rise to the need for immediate measures to protect dams and prevent flooding,” the Athens-based company said in an e-mailed statement yesterday.
Production will run at its highest capacity for at least 10 days, according to the statement. PPC said it will work with Greece’s power grid operator DESMIE to avoid any problems with the increased output of electricity from hydropower plants.
Water levels for the period from December 1 to 20 were enough to produce 2,067 gigawatt hours of electricity, compared with 1,302 GWh for the same period in 2008, PPC said.
On November 11, the company raised its 2009 target for earnings before interest, tax, depreciation and amortization as a percentage of revenues to 29 percent from 21 percent, citing increased, cheaper hydroelectric generation.
(KATHIMERINI, 12/22/2009)