The European Commission has sent Greece’s Public Power Corporation a supplementary statement of objections in its long-running inquiry into alleged below-cost electricity sales.
The document, sent on 13 November, adds detail to the Commission’s methodology for assessing whether PPC supplied power in the Greek wholesale market below cost between 2013 and 2019. Brussels says the conduct may have excluded the utility’s principal competitors at the time.
PPC was Greece’s largest wholesale and retail electricity supplier during the period under examination and controlled all of the country’s lignite and hydropower capacity. The Commission first set out its preliminary concerns in February 2024, following an inspection in 2017 and the formal opening of proceedings in 2021.
A supplementary statement of objections is procedural, not a finding of infringement. It gives the company further notice of the regulator’s case and an opportunity to answer the analysis before the Commission decides whether to close the investigation or adopt a final decision.
In a 14 November market announcement, PPC said the allegations concern a period before Greece redesigned its electricity market under the EU Target Model. It said it had cooperated throughout the investigation and would continue to defend its rights.
The company’s response and the Commission’s notice agree on the immediate posture: the case remains unresolved. No infringement, fine or consumer-loss figure has been established. The central dispute will be whether the regulator’s refined cost methodology supports its preliminary view that the pricing amounted to exclusionary conduct by a dominant undertaking.
The investigation is recorded by the Commission as case AT.40278.
