The dominant power utility in Greece, state-run Public Power Corp. (PPC), on Wednesday announced profits over the first nine months of 2016 reaching 69.5 million euros, up from 5.9 million euros during the corresponding period of crisis-swamped 2015.
EBITDA results remained almost unchanged, at 775.9 million euros, up from 773.4 million euros over the same period in 2015, although turnover fell by 9.2 percent, to 4.04 billion euros.
The latter development was attributed to lower demand, listed PPC’s smaller share — in GWh – of the retail market, new competitors, and discounts offered to commercial and industrial clients in the low- and mid-voltage range.
