ANNOUNCEMENT
Commenting on recent press articles with respect to the setting up of new electricity tariffs as of 1st of January 2012, PPC S.A. clarifies the following:
- As required, PPC submitted to the Regulatory Authority for Energy cost data for the 3-year period 2010 - 2012, so as to initiate the process for the formulation of the new tariffs for 2012.
- 2011 tariffs were set based on the particularly low cost data for 2010.
- The comparison of the aforementioned data points to a 16% cost increase in 2011 compared to 2010 and a 3% increase in 2012 compared
to 2011.
- It is noted that the abovementioned increases apply only to the energy component of tariffs (cost of energy), thus the total impact on the
electricity bill – which also includes network charges and other charges – will be certainly lower.
Despite the significant decrease in payroll expenses, the increase in the energy component of tariffs is attributed to exogenous and non-controllable factors such as:
- the imposition of Special Consumption Tax on natural gas,
- the increase of the wholesale market price combined with the higher purchases from the System,
- the decreased hydro generation,
- the increase in liquid fuel and natural gas prices.
PPC will timely and responsibly proceed with further announcements about any changes in its tariffs, upon approval by the Regulatory Authority for Energy and the Ministry of Environment, Energy and Climate Change, in accordance with the relevant legislation.
Athens 7-10-2011