PPC's market dominance proves costly

Greece's state-owned Public Power Corporation (PPC) will be obliged to sell off more of its power sales to smaller power providers in order to meet binding targets set by the country's 2015 bailout deal to reduce its market dominance.

In the first six months of this year, PPC controlled 80.42 percent of the market while the rest was shared among 18 privately owned suppliers, only two of whom - Heron and Protergia - had a share of over 4 percent.

According to the 2015 bailout deal, PPC's retail market share should have fallen to 68.74 percent by last June. This 11.68-percentage point difference between were PPC is now and where it should be led the Regulatory Energy Authority (RAE) to increase the amount that the former monopoly will have to sell off in the next two auctions of its capacity, in October and in early 2019.

Thus, in October, PPC will sell 127 MWh, on...