{"id":14541,"date":"2020-04-15T14:06:55","date_gmt":"2020-04-15T14:06:55","guid":{"rendered":"https:\/\/www.depa.gr\/?p=14541"},"modified":"2021-04-09T15:12:10","modified_gmt":"2021-04-09T15:12:10","slug":"liquidity-of-120-million-euro-in-the-energy-market-from-the-refund-to-depas-customers-following-the-retrospective-price-cuts-by-botas-athens-april-15th-2020","status":"publish","type":"post","link":"https:\/\/www.depa.gr\/en\/liquidity-of-120-million-euro-in-the-energy-market-from-the-refund-to-depas-customers-following-the-retrospective-price-cuts-by-botas-athens-april-15th-2020\/","title":{"rendered":"Liquidity of 120 million euro in the energy market from the proportional compensation to DEPA\u2019s customers, following the retrospective price cuts by BOTAS <br> (15\/04\/ 2020)"},"content":{"rendered":"<h4 style=\"text-align: center;\"><strong>Press Release<\/strong><\/h4>\n<h4 style=\"text-align: center;\"><strong>Liquidity of 120 million euro in the energy market from the proportional compensation to DEPA\u2019s customers, following the retrospective price cuts by BOTAS<\/strong><\/h4>\n<p align=\"justify\"><span lang=\"en-US\">DEPA returns today to its customers the proportional amount yielded by the retrospective price cuts by BOTAS. The total amount of 120 million euro is considered a significant boost of the domestic energy market\u2019s liquidity, amid a difficult period due to the impact of the Covid-19 pandemic.<\/span><\/p>\n<p align=\"justify\"><span lang=\"en-US\">On March 5, BOTAS compensated DEPA for all retrospective price cuts, as per the ruling of the Stockholm International Chamber of Commerce (ICC). ICC ruled on January 10<\/span><sup><span lang=\"en-US\">th<\/span><\/sup><span lang=\"en-US\"> 2020, in favor of DEPA in the legal dispute with the Turkish gas company, regarding the request of the former for a price reduction.<\/span><\/p>\n<p align=\"justify\"><span lang=\"en-US\">Along with the boost of liquidity in the Greek energy market, the increase of <\/span><span lang=\"en-GB\">DEPA\u2019s <\/span><span lang=\"en-US\">available funds comes in a very crucial period during which the corporate transformation is fully deployed. Full utilization of cash liquidity is already under way, by DEPA Trade for the completion of its investment plan, by DEDA for the acceleration of network expansion plan to connect more areas of the Greek region to the natural gas network, as well as by DEPA International Projects which &#8211; among other things &#8211; will undertake the implementation of the studies concerning the EastMed pipeline.<\/span><\/p>\n<p align=\"justify\"><span lang=\"en-US\">DEPA\u2019s CEO, Mr. Konstantinos Xifaras, stated in this regard: \u201cOver recent months we have been engaged in a race to reduce the cost of gas supply, for the benefit of the Greek economy. Our efforts have already yielded significant results, as DEPA has been implementing lower pricing since January. In addition, we are now pleased to return to our customers a large amount that will help them deal with the effects of the pandemic. With a profound sense of responsibility, DEPA &#8211; even in the midst of this unprecedented situation &#8211; continues to safeguard the country\u2019s uninterrupted gas supply and to support our economy\u201d.<\/span><\/p>\n<p align=\"justify\"><span lang=\"en-US\">The Deputy Minister of Environment and Energy, Mr. Gerasimos Thomas, highlighted that: \u201cThe Ministry proceeds steadily and methodically with the implementation of measures that support the energy sector and industry, amid the Covid-19 crisis. Today&#8217;s move by DEPA follows the initiatives already taken by the Ministry for the <\/span><span lang=\"en-GB\">seamless<\/span><span lang=\"en-US\"> operation of the energy market, with the latest example being the regulations included in yesterday&#8217;s Legislative Content Act. I would like to congratulate the management of DEPA, which <\/span><span lang=\"en-GB\">reached an agreement<\/span><span lang=\"en-US\"> with all its customers timely and, thus, further increases market liquidity through payments before Easter. The <\/span><span lang=\"en-GB\">compensation<\/span><span lang=\"en-US\">, deriving from BOTAS&#8217; retroactive price reduction, leaves DEPA with high liquidity that will be used <\/span><span lang=\"en-GB\">for the<\/span><span lang=\"en-US\"> support of its subsidiaries\u2019 business plans, in the transition period until the private investors&#8217; funds enter DEPA Infrastructure and DEPA Trade&#8221;.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Press Release Liquidity of 120 million euro in the energy market from the proportional compensation to DEPA\u2019s customers, following the retrospective price cuts by BOTAS DEPA<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":2,"featured_media":14194,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[],"class_list":["post-14541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-releases"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Liquidity of 120 million euro in the energy market from the proportional compensation to DEPA\u2019s customers, following the retrospective price cuts by BOTAS  (15\/04\/ 2020) - DEPA COMMERCIAL S.M.S.A.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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