|Bid||0.00 x 100000|
|Ask||6.33 x 150000|
|Day's range||6.29 - 6.55|
|52-week range||2.96 - 6.55|
|Beta (5Y monthly)||1.83|
|PE ratio (TTM)||N/A|
|Earnings date||23 Sept 2021|
|Forward dividend & yield||N/A (N/A)|
|1y target est||14.27|
ATHENS (Reuters) -Greece will ramp up coal mining in the next two years as a "temporary" measure to help reduce a dependence on gas that has soared since last year and after Russia's invasion of Ukraine, Greek Prime Minister Kyriakos Mitsotakis said on Wednesday. "Certainly for the next two years, it would make sense increasing coal-fired energy generation by ramping up its mining by 50% so that we cut reliance from gas in the short-term," Mitsotakis said at the inauguration of a solar park in northern Greece. Greece, which covers about 40% of its annual energy needs with Russian gas, has been looking into boosting spare coal-fired capacity at Public Power Corp (PPC), its biggest power utility, and adding a floating tank at its sole LNG terminal off Athens to secure energy supplies in case Russia halts gas flows.
Greece’s biggest power utility Public Power Corp. (PPC) posted a full-year loss on Tuesday on the back of higher spending for gas purchases and carbon emissions and hefty discounts offered to customers suffering from soaring energy costs. PPC said net loss came in at 18.4 million euros ($20.1 million) for 2021 compared with a net profit of 19.5 million euros the previous year. The group, which is 34% owned by the state, has offered discounts worth 800 million euros to households and businesses to help them deal with soaring power bills in the second half of 2021, it said.
RWE, Germany's biggest power producer, on Thursday said it has formed a joint venture with Public Power Corporation (PPC) , which will initially focus on realising solar projects worth up to 2 gigawatts in Greece. The 51-49 joint venture is RWE's first move into the Greek market, the company said, adding both firms had agreed to not disclose financial details of the deal. "Greece is a promising growth market for us, with its high solar energy levels and clear commitment to renewables," said Katja Wuenschel, chief operating officer for onshore and PV Europe and Asia-Pacific of RWE Renewables.