01 February, 2008
Public Power Corp., Greece's state-run power utility, on Thursday categorically dismissed press reports that it was examining a plan to contribute its option to buy 30 percent of natural gas utility DEPA in a joint venture with Germany's RWE.
In a statement to the press, PPC said it has publicised its decision to begin activities in the natural gas sector as it was the largest natural gas consumer in the country. As part of a strategic plan, PPC said it has decided to acquire 30 percent of shares in DEPA and underlined that the utility would examine alternative plans only if the transaction was not carried out.
PPC also said a memorandum of cooperation signed with RWE envisages, among others, examining ways to promote cooperation in the natural gas sector as the German enterprise is heavily involved in both electricity production and natural gas energy production.
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