PUBLIC GAS CORPORATION (DEPA) FULLY COMPLIES WITH THE DECISIONS OF THE REGULATORY AUTHORITY FOR ENERGY (RAE) AND THE HELLENIC COMPETITION COMMISSION (HCC)
In response to recent press reports with regard to DEPA’s quarterly auctions and in order to clear any doubts about the alleged deviation from its commitments undertaken with the Hellenic Competition Commission (H.C.C.), DEPA clarifies that:
Pursuant to the commitments of DEPA with the H.C.C. and RAE decision no. 592/2014 on the calculation of the gas quantities to be offered in DEPA’s auctions, DEPA uses for the purposes of the relevant calculations an estimate of the natural gas sales of the year in which the auction is held, as this estimate stands at the time of these calculations.
In compliance with the aforementioned legal framework, DEPA:
a) held on 30/10/2015 the annual auction for the year 2016 on the basis of its 2015 gas sales estimate which amounted at that time to 33,000,000 MWh (as a result, the gas quantities offered in the 2016 annual auction amounted to 1,980,000 MWh), and
b) will hold on 15/12/15 the first quarterly auction, on the basis of its 2015 gas sales estimate which amounted on 8/12/2015 to 30,578,000 MWh (as a result, the gas quantities to be offered in the first 2016 quarterly auction will amount to 269,450 MWh).
DEPA has applied the same methodology with respect to its auctions for 2015. It is noted that, pursuant to the abovementioned decision of RAE, the amounts of the gas quantities to be offered in the subsequent 2016 quarterly auctions will become final at the beginning of 2016 once DEPA has at its disposal the final figure for the total annual gas quantities it supplied to its customers in 2015. Calculations will be performed on the basis of this final 2015 annual gas sales figure, after deducting the currently contracted quantities as well as the quantities to be contracted during the first quarter of 2016.
In light of the above and for the purpose of establishing the truth about DEPA’s auctions, it is clear that, in full compliance with RAE decision and DEPA’s commitments undertaken with the national Competition Authority, DEPA offers the market the 10% of its actual annual gas sales through auctions.