DEPA sees PPC, its best customer, gradually slip away

The gradual distancing of Public Power Corporation (PPC) from Public Gas Corporation (DEPA), of which the power giant used to be the main client, will likely be the killing blow for the gas utility's competitiveness, just as the state is getting ready to privatize it.

PPC has already replaced part of its gas takings with liquefied natural gas (LNG) it acquires from DEPA's competitors, and its strategy as of next year dictates that it will further reduce the quantities it gets from DEPA to 8 million megawatt hours, while acquiring 10 million MWh from the market through tenders, including 5 million MWh in LNG.

"We will be procuring gas wherever we find it cheaper," a PPC source said, confirming the above information.