Public Power Corporation of Greece
 |
|
| Anonymi Etairia | |
| Traded as | : |
| Industry | Electricity |
| Founded | 1950 |
| Headquarters | Athens, Greece |
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Key people
|
Emmanuel Panagiotakis (Chairman & CEO) |
| Products | Electric power |
| Services | Electrical power distribution |
| Revenue | €4.452 billion (2015) |
| €994.57 million (2015) | |
| €773.42 million (2015) | |
| Total assets | €17.483 billion (2015) |
| Total equity | €6.063 billion (2015) |
| Owner | Greek Government (34.12%) |
|
Number of employees
|
22,460 (2015) |
| Website | www |
The Public Power Corporation S.A. (Greek: Δημόσια Επιχείρηση Ηλεκτρισμού (Dimosia Epicheirisi Ilektrismou); ΔΕΗ) is the biggest electric power company in Greece. It is controlled by the Greek government, which owns a majority of the issued shares.
PPC was founded by the Greek government in 1950. Its main purpose was to plan and apply a national energy policy which, through the exploitation of the domestic products and resources, would distribute cheap electric power to all Greek citizens. PPC started the integration of all the small local grids to the national interconnected grid. Furthermore, the corporation resolved the purchase of all the small private and local electric power production units.
Today, PPC Group consists of 4 subsidiary companies PPC or DEI S.A., HEDNO or DEDDIE S.A., IPTO or ADMIE S.A. and PPC RENEWABLES S.A.
In the past five years there has been no change in the share capital of the Company. The Company’s shares are traded in the «Large Cap» category of the Athens Stock Exchange (ATHEX), while in the London Stock Exchange they are traded in the form of Global Depositary Receipts (GDRs).
The Company’s shareholding structure as on the 31st of December 2014 was as follows:
In 2001, PPC carried out a share flotation on the Athens Stock Exchange and consequently is no longer wholly owned by the government, although it is still controlled by it with a 51.1% stake.
In June 2011, the Greek government announced it would sell 17% of its share of PPC to meet conditions of EU/ECB/IMF loan package. The workers of PPC responded by limited power cuts to selected towns across Greece. However, this plan is now is jeopardy as the incoming Tsipras Government has decided to suspend the privatization of PPC as one of its first anti-austerity measures.
PPC has developed the first Wind Farm in the world, combined with a Photo-voltaic Station to supply electricity to the isolated power system of the island of Kythnos in 1982.
The PPC has committed to buying renewable-source energy from independent producers at five times its selling rate until 2034.
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Wikipedia