By K. Deligiannis
[email protected]
Debt-swamped Public Power Corp.’s (PPC) updated business plan calls for a return to “black ink” by the end the next decade, with a return to profitability for three lignite-fired power units in Florina, extreme northwest Greece, and Megalopoli, in the southern Peloponnese.
At the same time, the ATHEX-listed power utility, once Greece’s absolute state-run monopoly, nevertheless included certain assumptions that have kept possible investors cautious.
Figures recently presented by the utility’s management in a ” Virtual Data Room” to would-be investors that have expressed an interest in the privatization of the lignite units – three in operation, and the fourth in the form of a mature license – show forecasted accumulated operating cash flows of 192 and 150 million euros for Meliti and Megalopoli, respectively, from the second half of 2019 through 2028.
Another international tender for the specific units has been declared, after the first was declared null and void.
The business plan also includes an average price of electricity for the 2019-28 period of between 74 to 78 euros per MWh.
Additionally, the power units at the Amynteo site are expected to cease operation in 2020, offering a bigger market share for power production by the up-for-sale units, whose production is expected to increase after 2022.
