Public Power Corporation of Greece
Dimosia Epichirisi Ilektrismou ( DEI ) (Greek Δημόσια Επιχείρηση Ηλεκτρισμού ( ΔΕΗ ), German Public Energy Company ) is the state-owned electricity company and the largest energy provider in Greece. The company is listed on the Athens Stock Exchange in Athex Composite Share Price Index.
Privatisation and IPO
The utility Dimosia Epichirisi Ilektrismou ( DEI ) was founded in 1950. The deregulation of the Greek electricity market was opened in February 2001. On January 1, 2001, she was in a Greek corporation SA converted. The IPO on the Athens Stock Exchange and the London Stock Exchange took place on 12 December 2001. On 1 December 2002, a further 13.2 per cent and 2 October 2003, a further 15.73 percent of the shares were floated on the stock exchange.
The shareholder structure as at 30 November 2004:
- 51.12 % Greek State
- 45.07 % Free float (including institutional investors)
- 03.81 % PPC pension funds
For the renovation of the Greek budget is planned to return the state participation to 34%. The employees, who must fear layoffs after such further privatization, fight against it with strikes, which have already led to numerous controlled several hours of power cuts
Energy sources
DEI operates power plants in Greece. In most cases, it is oil-fired power plants. In Athens DEI operates a number of football fields big oil power plant. DEI is based on very windy islands and wind power plants.
DEI operates two major lignite - brown coal mines in Ptolemais and Megalopolis, which were also large lignite power plants are operated. In 2007, 63.4 million tons of lignite - brown coal were mined. The lignite-fired power plants produce one-third of the electrical energy in Greece.
Mid-2002, was a power plant in Komotini with 485 MW, commissioned in 2003 in Florina with 330 MW and in 2006 in Laurion the 5th block of 385 MW.
DEI has on 12 February 2009 a joint venture with the Greek construction company Halyvourgiki SA closed after these two power plants to build with a total capacity of 880 MW. PPC holds 49 percent in the joint venture.
Renewable energy contributes only twelve percent for electricity generation. DEI has established the subsidiary PPC Renewables but SA and investing more in renewable energies. By 2020 it should be 40 percent. The government is counting on solar energy. Currently, photovoltaic power plants with an installed capacity of 85 megawatts to the grid. By 2020 it should be 2200 megawatts. In Ptolemais one of the world's largest solar power plants is planned.
DEI published on their electricity bills for consumers in the current accounting period devoted mix of energy sources used to generate electricity. These values vary slightly each billing period, however, as the order to assess the current energy mix of the DEI quite meaningful. The values are valid for the whole energy of the DEI for all of Greece. The following table illustrates the evolution of the composition of the sources of energy for some selected accounting periods; there are respectively the average values for a twelve month period:
Criticism
DEI has come mainly through its use of oil and coal power plants in tourist towns in the criticism. It operates the two largest emission coal-fired power plants in Europe. Then DEI has responded with the announcement to build more wind turbines and disable the fossil power plants. The company plans but at the same time the construction of new coal-fired power plants in the cities of Volos, Kavala and the island of Euboea, together with the German energy company RWE. In contrast, there were protests.
Structural data
DEI operates 98 power plants, about 11,750 km high- voltage transmission lines and 215,000 km of medium and low voltage networks. PPC operates 277 offices, covering 99.7 percent of the electricity market in Greece from. The capacity of DEI power plants increased from 80 MW in 1950, about 2,578 MW ( 1970), 5,407 MW (1980) and 8,812 MW ( 1990) increased to 12,760 MW in 2007.
Financial data
Telecommunications
In December 2000, the area PPC Telecommunications SA is founded, which acquires a landline and mobile telecommunications licenses. Mid-2001, is a collaboration with the Italian telecommunication company Wind SpA Telecomunicazioni agreed. In February 2003, Tellas SA began operations auf.Am October 19, 2007 will be sold to Weather Investments, which they, together with the Greek mobile operator Wind Hellas SA 50 percent plus 1 share of Tellas SA.