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Power Generation and Trading

The Group is active in the production, trading and supply of electricity in Greece through its participation (50%) in the Elpedison B.V. joint venture (the remaining 50% is held by EDISON International). Elpedison B.V. Group includes the 75.78% participation in the share capital of Elpedison SA, while ELLAKTOR (22.74%) and HALCOR (1.48%) own the remaining of the share capital.

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 gas-fired plant in Thessaloniki, since 2005, and a 420 MW gas fired plant in Thisvi, since 2010.

ELPEDISON is also active in the electricity supply business, being one of the largest alternative independent electricity suppliers with sales of 1,710 GWh and a 3.5% retail share in the LV and MV customer segments in 2018. Also, in 2018, ELPEDISON S.A. entered the liberalised natural gas supply market, thereby expanding its customer list, mainly in Attica, Thessaloniki and Thessaly.

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Natural Gas

The Group is active in the natural gas sector through its 35% participation in DEPA S.A., with the remaining 65% owned by the HRDAF. DEPA Group is active in supplying natural gas in Greece through import pipelines and the Revithoussa LNG terminal, as well as in the trading of natural gas. In addition, DEPA is active in natural gas supply through ΕPA Attiki, which distributes Natural Gas to small and medium scale consumers, as well as in the distribution of low-pressure gas through the Gas Distribution Companies (EDA), following the unbundling of distribution and supply activities. DEPA also participates in international gas transportation projects.

At the end of 2018, the sale of 66% of the share capital of DESFA which manages and develops the National System of Natural Gas Transmission, to a consortium of European companies Snam S.p.A, Enagas and Fluxys was concluded, for a consideration of €535 million (HELPE share of sale proceeds: €284 million).

In the context of restructuring its position in the retail market, DEPA proceeded to similar transactions during 2018, in EPA ATTIKI and THESSALONIKI-THESSALIA (ZENITH), as well as EDA ATTIKI. More specifically, DEPA sold 51% of the share capital of ZENITH to the Italian Company Eni Gas e Luce, at a price of €57 million and purchased 49% of the share capital of EPA and EDA Attiki from Attiki Gas BV (Shell) at a price of €39 million and €111 million respectively.

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