REG - Public Power Corp - Approval of the EU for the CO2 <Origin Href="QuoteRef">DEHr.AT</Origin>

Public Power SAAnnouncement

17/02/2017 10:25

RNS Number : 1900X
Public Power Corporation S.A.
17 February 2017
Approval of the EU for the Emission Allowance Trading Scheme (CO2)
Announcement
The European Parliament, at its meeting held in 15.02.2017 approved amendments to Directive 2003/87/EC on the Emission Allowance Trading Scheme (CO2), which are significant for our country. 
In particular, it was decided that countries whose GDP was below 60% of the EU average up to 2015 will be included in the Modernization Fund, including in this way Greece as well. In addition, a special provision was included in the European Parliament's decision for the inclusion of Greece in the Transitional Free Allocation Mechanism (CO2).
These decisions are paving the way for Greece to have access to significant funds of more than  1 billion for the modernization of its electricity system infrastructure. 
This is a highly positive development, a milestone in the great effort initiated by PPC since May 2015. The next step is the negotiations in the European Council, where the Greek Government will have as an important asset the aforementioned decision of the European Parliament.
PPC will continue to support this effort by all available means in order to ensure a successful outcome. 
Athens, February 17, 2017

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