Creative Commons

The Public Power Corporation is a state owned company that operates since 1950 in the Greek electricity market. It played undoubtedly a significant role to the growth of Greece after the period of wars in 50’s decade and it is still the dominant player in electricity generation and supply sector. In late 90’s commenced the period of PPC’s re- forming, following necessarily the instructions of European Union as regards to market liberalization. The first step was the conversion to a limited company, operating under the rules of private market. In early 2000’s followed three public offerings which result- ed to the reduction of Greek state’s share in the company. However, after the public offerings, Greek state has still the control of PPC by possessing more than 50% of the company’s shares. The financial problems are now an obstacle for the growth and expansion of the company and several types of reforming have been proposed the last ten years. The case of “small PPC”, the so called NOME actions, the sale of 40% of hydroelectric and lignite power plants and finally the sale of 17% of the capital share are issues that analyzed in this dissertation. Similar privatization ventures have been already realized in other Europe countries and two of them are present- ed. To writer’s opinion, the management concession of part of lignite and hydroelectric power plants could also be an alternative which will benefit both PPC and Greek state. In any case, the participation of the private sector in PPC’s operation seems essential in order for the company not only to meet its financial obligations but also to acquire a dominant position in the Balkan region.