The Public Power Corp. (PPC), Greece's previous electricity monopoly and still the dominant provider in the country, significantly improved its operational profits in the first quarter of 2018, with EBITDA reaching 147.2 million euros in the specific period, up from losses of 69.4 million euros in the first quarter of 2017.
The reversal was mainly attributed to lower costs for power generation, as well as fewer purchases of power from other providers and an improvement in provisions for bad debts.
The positive developments apparently more than covered a reduction in turnover and sales during the same period.
