Public Power Corporation (PPC), Greece’s largest energy company, is responding to the European Commission’s allegations of selling electricity on the wholesale market below cost to exclude rival suppliers, stating that these allegations relate to a period between July 2013 and 31 December 2019, before the modification of the regulatory framework of the Greek electricity market in accordance with the EU target model, according to News.ro.

“PPC SA (“PPC”) announces that the General Directorate for Competition of the European Commission (“the Commission”) sent today to PPC a communication regarding Statements of Objections regarding an alleged violation of EU competition rules. The case began with the Commission’s inspection of PPC’s premises in February 2017, and proceedings were officially opened in March 2021. PPC cooperated with the Commission throughout the case. The Commission’s allegations relate to a period between July 2013 and 31 December 2019. Therefore, the case relates to a period before the regulatory framework of the Greek electricity market was changed in line with the EU target model, but most importantly , long before the transformation of the company into a modern and sustainable energy company,” states the company.

PPC emphasizes that it will continue to cooperate with the Commission and take all appropriate and necessary measures to defend its rights.

“The Statement of Objections is a stage of the investigation and, as the Commission emphasized in its statement, the communication regarding the Statement of Objections does not affect the result of the investigation,” the PPC also said.