BRUSSELS, Sept 10 (Reuters) - EU competition regulators on
Friday gave the green light to Greek measures allowing rivals of
PPC access to electricity after an investigation found
that the Greek power utility's exclusive access to lignite-fired
generation gave it an unfair advantage.
The European Commission said PPC will sell quarterly forward
electricity products on the organised exchanges of the European
Energy Exchange (EEX) and the Hellenic Energy Exchange (HEnEx),
allowing PPC rivals to source wholesale electricity on the
forward market and hedge against price volatility.
PPC will obtain a net seller position on EEX and/or HEnEx,
ensuring that sufficient volumes of wholesale electricity are
made available to competitors.
The EU antitrust enforcer said the proposed remedies will
lapse when existing lignite plants stop operating commercially,
currently expected by 2023 or at the latest by December 2024.
(Reporting by Foo Yun Chee)