20 Years of HELLENIC PETROLEUM
Power Generation and Trading
The Group is active in the production, trading and supply of power in Greece through its participation (50%) in the JV Elpedison B.V. (the remaining 50% is held by EDISON International). Elpedison B.V. Group owns a 75.78% of the share capital of Elpedison S.A. (Elpedison S.A. resulted from the absorption of Elpedison Energy S.A. by Elpedison Power S.A.), with ELLAKTOR (22.74%) and HALCOR (1.48%) owning the rest.
ELPEDISON S.A. is currently the second largest independent power producer in Greece with a total installed capacity of 810 MW (comprising a 390 MW plant in Thessaloniki, since 2005 and a 420 MW plant in Thisvi, since 2010).
In supply, ELPEDISON SΑ is one of the largest independent electricity suppliers with sales of 1,710 GWh, a 3.5% market share in high, medium and low voltage customers and has recorded rapid growth over the course of the year. In 2018, ELPEDISON S.A. entered the liberalised natural gas supply market, thereby expanding its customer list, mainly in Attica, Thessaloniki and Thessaly.
ELPEDISON S.A.’s profitability was lower compared to 2017, with EBITDA amounting to €22 million due to weak margins in power production and supply. The higher cost of natural gas, as well as the significant increase in the price of CO2 emission rights also had a negative impact on the company's results. In addition, the delay in the implementation of the new “Transitory Flexibility Remuneration Mechanism", which replaced the previous mechanism which was effective until April 2017, also had a significant impact. The new mechanism came into force in 4Q18.
Greek Energy Mix
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