The future of Greek Gas and Power Markets
Looking ahead with optimism and realism
«The future of power generation»
Dinos Benroubi
Executive Director – General Manager
29th April 2014
Company Information
• Protergia is 100% subsidiary of MYTILINEOS Holdings and
is the holding company of the Group’s power division.
• Protergia is the largest independent (private) power producer
in Greece, being the owner and/or operator of a balanced
portfolio of thermal (1,2 GW) and renewable plants with an
asset value of 1 billion euros.
• Protergia trades electricity on international platforms as well
as physically through cross border trading.
• Protergia recently entered the retail electricity market.
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Protergia Group
PROTERGIA SA
100%
ALUMINIUM S.A.
334 MW CHP
Management Only
PROTERGIA
AGIOS NIKOLAOS SA
444 MW CCGT
65%
KORINTHOS POWER S.A.
437 MW CCGT
RES Subsidiaries
•54 MW in operation
•52 MW (wind farms)
construction
•700 MW
development
under
under
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Energy Complex of Ag. Nikolaos
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KORINTHOS POWER – CCGT (Ag. Theodoroi)
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The future of Greek Gas and Power Markets:
Looking ahead with optimism and realism
The future of power generation
• Future of gas to power
• Liberalization Progress
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Gas’ role in the Greek electricity system:
Gas remains a basic fuel for power generation
Jan-Apr 2014 - SCADA
Jan-Apr 2013 - SCADA
Exhausted capabilities?
Future
Yearly variability
Future
20% of total System needs
Future
?
Maximum usage of
Interconnection Capacity
Future ?
Future
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Gas’ role in the Greek electricity system:
The example of February 2014
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Gas’ role in the Greek electricity system:
Generation adequacy Study prepared by ENTSO-E
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Gas’ role in the Greek electricity system:
Load following through ramping capability
Interconnected System’s net load, 14.03.2014
Ramp Down
2 GW
Ramp Up
Ramp Up
1,0 GW
Ramp Down
3 GW
4hours
1,5 GW
2hours 4hours
5hours
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Current VS Intended situation
of the Greek electricity market
Asymmetry
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Transforming optimism to realism:
Restructuring of the Greek electricity market
Ministerial Council’s Act, July 2013
• Small PPC
• Strategic investor in PPC
• TSO’s ownership unbundling
RAE’s roadmap, November 2012
Transitory Measures
• Modification of wholesale market rules
• NOME type products
(third party access to lignite energy)
Long Term Permanent Status
• Adaptation to EU’s target model
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Modification of wholesale market rules
To be elaborated and defined by the Regulator ensuring
short, medium and long term capacity adequacy
and response to peak demand
in a cost effective way and
in compliance with relevant EU guidelines.
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NOME-type procedures
• NOME-type procedures aim at opening the retail market.
• No impact on power plants’ financials.
• NOME-type procedures shall ensure third-party access
to energy produced by lignite-fired plants
owned and operated by PPC and not directly to the plants.
• NOME is a transitional measure to be abolished
by the time small PPC is transferred to third party ownership.
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Small PPC
Recent Draft Law for selling 30% of PPC
• In principle, positive move, towards real energy market liberalization.
• Should aim to create symmetric competition in generation, leading
to long term competition in retail and lower prices to the consumer.
Issues TBD:
• Inclusion of PPC’s lowest efficiency CCGT in the package
• Forced transfer of consumers instead of
voluntary - competition driven - change of supplier
 (should already be realized through NOME if successfully designed)
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Thank you!