The European Commission has launched an investigation to assess the behaviour of Public Power Corporation (PPC) in the wholesale electricity sector in Greece.
PPC is the largest supplier of retail and wholesale electricity in Greece and is majority owned by the state.
It controls all lignite and hydro as well as some of the natural gas and renewable power generation plants and is also active in the supply of energy to retail and business consumers where it still has more than two-thirds market share.
The Commission said it is concerned PPC may have restricted competition in the Greek wholesale electricity markets with its bidding.
In particular, the Commission alleges the company “may have adopted predatory bidding strategies hindering the ability of PPC rivals to compete in the wholesale and related electricity markets”.
Executive Vice President Margrethe Vestager, in charge of competition policy said: “We all rely on well-functioning electricity markets. Today we are launching an investigation of PPC’s behaviour in wholesale electricity markets in Greece that might have distorted competition and slowed down investment into the generation of greener energy.
“Greece has recently embarked on an ambitious plan to exit from lignite. Ensuring effective competition is the best way to deliver competitively priced electricity, both for citizens and businesses, as well as to stimulate investment in less polluting energy sources.”
The Commission added it will examine the case as a matter of priority and does not prejudge the outcome of the investigation.