PPC prof­its power up in Jan-Sept

Kathimerini English - - Front Page - CHRYSSA LIAGGOU

Pub­lic Pow­erCor­po­ra­tion’s im­pres­sive prof­its in the first nine months of 2014 cre­ate sig­nif­i­cant scope for a re­duc­tion in elec­tric­ity rates and are the re­sult of a cut in spend­ing on fuel and en­ergy pur­chases from third par­ties, as well as the im­prove­ment of the power company’s op­er­at­ing ex­pen­di­ture.

Athens-listed PPC an­nounced yes­ter­day that its nine-month after-tax prof­its amounted to 121.8 mil­lion euros, against just 6.7 mil­lion euros in the Jan­uary-Septem­ber 2013 pe­riod.

In the third quar­ter alone, rev­enues from the sale of elec­tric­ity grew by 47.8 mil­lion euros or 3.2 per­cent year-on-year, cut­ting the to­tal re­duc­tion in the first nine months of the year to just 1.4 per­cent on an an­nual ba­sis. That was de­spite the re­duc­tion of Pub­lic Power Cor­po­ra­tion’s mar­ket share to 97.9 per­cent in Q3 from 98.3 per­cent a year ear­lier.

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