Announcement – Regulated information
February 7, 2024
PPC SA ("PPC”) announces that the European Commission Directorate-General Competition (“the Commission”) has today sent a Statement of Objections to PPC concerning an alleged breach of EU competition rules. The case commenced with the Commission’s inspection at PPC’s premises in February 2017, and proceedings were formally opened in March 2021. PPC has cooperated with the Commission throughout the entire case.
The Commission’s allegations relate to a period from July 2013 to 31 December 2019. The case therefore concerns a period before the redesign of the Greek electricity market in line with the EU Target Model but most importantly, well ahead of the company’s transformation into a modern and sustainable energy company.
PPC will continue to cooperate with the Commission and take all appropriate and necessary steps to defend its rights.
The Statement of Objections is one step of the investigation and as the Commission has emphasised in its statement the service of a Statement of Objections does not prejudge the outcome of the investigation.