According to the agreement with the European Commission, Greek Public Power Corporation (PPC) must offer lignite-fired electricity packages for the first, second and third quarters of 2022 by October 31, either through the European (EEX) or Greek (HEnEx) energy exchange.
All transactions for electricity quantities offered to independent electricity suppliers through the first package will need to be completed by the end of November, while transactions for the second and the third quarter packages must be completed by 31 December.
Regarding the offered volumes, first and second quarter packages have to amount to 872 and 515 GWh, respectively. For the third quarter package, PPC will have to offer 50 % of its lignite-fired electricity generated in the third quarter of this year.
In July in August, PPC produced a total of 1,081 GWh of lignite-based electricity, while the production in September is estimated at 370 GWh, which maked the total of some 1450 GWh, so the amount of electricity offered for the third quarter of 2022 should be around 725 GWh.
PPC said earlier that it has chosen to offer lignite- fired electricity packages to independent suppliers through the Greek energy exchange and not the European energy exchange. The main reason for this decision is that PPC sees the forthcoming mechanism as a good opportunity for the domestic futures market to gain momentum and help improve its cash flow. The first lignite-fired electricity packages are expected to offered through HEnEx in the fourth quarter of the year.
