ANNOUNCEMENT
PPC S.A. informs the investor community that during a conference organized today, the Chairman & CEO of PPC, Mr Arthouros Zervos, referring to the recent arbitration decision, noted, amongst other, that the electricity price decided by the arbitration tribunal was not € 40,7/MWh, as made known, but € 36,6/MWh, since the € 40,7/MWh do not include other charges not related to the cost of energy. PPC mandated an external advisor, PWC, to conduct a study on PPC cost and the result of the study was submitted to the arbitration tribunal. According to the study, the average full cost of PPC is €72/MWh and the average full cost of the lignite-fired generation, which according to the decision should be used as the basis, is € 62/MWh.
As already mentioned in a previous announcement, PPC will proceed with all necessary actions for defending its interests and those of its shareholders and consumers.
Athens, November 8, 2013