PPC planning to power into natural gas retail market too
Public Power Corporation is launching a counterattack in the retail market, expanding its activity to the provision of natural gas too.
Probably before the end of this month, the electricity giant aims to start offering combined packages of power and natural gas at competitive rates, reversing the outflow of its customers which had started to grow following the recent electricity rate hikes.
The utility's previous administration had begun planning for PPC's penetration of the gas market. It had applied for the required license and that was approved by the Regulatory Authority for Energy in April 2018.
The objective of the plan is the offsetting of losses from the reduction in its electricity market share. It was actually McKinsey, the consultant PPC had commissioned, which advised the utility to enter the gas market, through a strategic plan it drafted.