PPC returned to losses in 2021 as in the second half of last year it chose to support its customers with discounts and other benefits totaling 800 million euros, sacrificing its net profitability.
And according to what the president and CEO of the company George Stassis said both during the announcement of the annual financial results and to the analysts, PPC will continue to support its customers this year against the large increases in energy prices, while at the same time it will continue its investment plan for the green transition of the group keeping for this purpose the EBITDA at the same levels as this year.
The “skyrocketing” profits…
The processing of the annual financial results also shows that the noise raised by SYRIZA and its president Alexis Tsipras regarding the super profits made by the electricity companies during the energy crisis was “much ado about nothing”. .
About 10 days ago, during a debate in Parliament, Mr. Tsipras had harshly attacked the Prime Minister Kyriakos Mitsotakis for not proceeding with the taxation of the super profits of the energy companies. In fact, the president of SYRIZA, citing data, had said that during the energy crisis, the super profits of energy companies amounted to 1.4 billion euros with 1 billion euros of this being the PPC’s windfall.
The Prime Minister, responding to Mr. Tsipras, announced an investigation by energy administrator RAE and if they find super profits, then he will tax them with 90%.
From the data announced by the PPC, it appears that the recurring EBITDA in the field of electricity generation was in 2021 in relation to 2020 higher by 788 million euros. But in the marketing sector for the same period it was negative by 778 million. This fact, as noted by market participants, shows that PPC has indeed returned to consumers the profits it made from the high prices of electricity generation. The only “super profits” it had were of the order of 10 million euros…
The same sources also note that if PPC, which is the largest player in the market, had only these super profits… then the skyrocketing profits are a myth…
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
RES: Large Companies Buying PPAs in Greece
Power Purchase Agreements (PPAs) are long-term contracts between renewable energy producers and large corporations seeking to secure electricity at stable prices in a sustainable manner.
School Closures, Ships Docked Amid Bad Weather in Greece
Severe weather in Greece causes school closures and sailing bans. Strong winds, snowfall, and icy conditions disrupt daily life and travel on Tuesday.
Greece to Proceed with Issuance of 10-Year Bond
Regarding Greece's public debt the Agency forecasts that it will continue its downward trend, recording a total reduction of around 56%.
Labor Shortage in Greece: Vacant Job Positions Costing the Economy Millions
Data show that specific sectors are facing particular challenges in filling job positions, with the primary sector struggling to find working hands.
e-EFKA: “Thaleia” Answers Policyholders’ Questions
It is a service provided by the organization, aimed at enhancing the experience for individuals with special needs.
PM Mitsotakis Outlines 2025 Goals for Growth and National Interests
"The government’s work will remain intense and multifaceted, so that day by day, something changes and the lives of all citizens become better," the prime minister stated
Tender for Repairs on Athens Olympic Stadium’s (OAKA) Iconic Roof
Tender for OAKA project, which is expected to exceed 78 million euros, stipulates that repairs, maintenance must be conducted while venue remains open for events
Louis-Dreyfus Family Eyes 21% Stake in Thessaloniki Port
The newly created Amsterdam-based LeonidsPort company has submitted a voluntary public offer for 21%
EUIPO Throws Out Turkaegean Trademark
The trademark had been filed by the Türkiye Tourism Promotion and Development Agency (TGA) in 2021 and immediately generated heated opposition by Athens
Economic Sentiment Indicator in Greece Drops Slightly in Dec.
The data revealed that the primary drivers of the slight drop were the industrial and retail trade sectors. Conversely, construction and consumer confidence improved.
