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COMMISSION DECISION of 5 March 2008 on the granting or maintaining in force by the Hellenic Republic of rights in favour of Public Power Corporation S.A. for extraction of lignite (Text with EEA relevance) (Only the Greek text is authentic) 1. THE FACTS ........................................................................................................... 4 1.1. The company ................................................................................................. 4 1.1.1. The statutes of the company ............................................................. 4 1.1.2. The activities of the company........................................................... 5 1.2. The Greek lignite sector................................................................................. 7 1.2.1. Introduction on lignite ...................................................................... 7 1.2.2. The legal and regulatory framework ................................................. 9 1.2.3. The list of lignite deposits in Greece............................................... 11 1.2.4. The decisions taken by the Hellenic Republic for public deposits .......................................................................................... 14 1.2.4.1. The Drama and Elassona deposits for which only exploration rights have been granted ............................... 14 1.2.4.2. The public deposits for which both exploration and exploitation rights have been granted .............................. 15 1.2.4.3. The other public deposits for which NO rights have been granted.................................................................... 18 1.2.4.4. Conclusion on the attribution of concessions on public deposits ................................................................ 19 1.2.5. Production of lignite and the impact of PPC rights.......................... 19 1.3. The Greek electricity sector ......................................................................... 22 1.3.1. Introduction to the legislative and regulatory framework ................ 23 1.3.2. Electricity generation...................................................................... 25 1.3.2.1. Installed capacity ............................................................ 25 1.3.2.2. The authorisation processes for new plants...................... 28 (a) Introduction .................................................................... 28 (b) Licenses for plants based on renewable sources (RES) and CHP plants..................................................... 29 (c) Licenses for plants other than those based on RES and CHP ......................................................................... 29 (d) Conclusion on the licensing of plants .............................. 33 1.3.2.3. Effective production and the specific role of lignite......... 34 1.3.3. Imports........................................................................................... 38 1.3.4. Wholesale market........................................................................... 39 1.3.5. Transport and distribution of electricity in Greece .......................... 42 1.3.6. Retail Electricity supply ................................................................. 42 2. THE PROCEDURE .............................................................................................. 44 2.1. The Complaint and the Letter of Formal Notice ........................................... 44 2 2.2. The replies by the Hellenic Republic and by PPC......................................... 45 2.2.1. In relation to the lignite supply market............................................ 45 2.2.2. Concerning PPC’s rights in relation to lignite exploitation.............. 45 2.2.3. In relation to lignite-fuelled generation of electricity ...................... 46 2.3. The further facts submitted by the Hellenic Republic after the answer to the Letter of formal notice........................................................................ 46 2.4. The supplementary Letter of formal notice and replies by the Hellenic Republic and PPC........................................................................................ 48 2.5. The replies by the Hellenic Republic and PPC to the supplementary Letter of formal notice ................................................................................. 48 2.6. Other letters ................................................................................................. 50 3. OTHER PROCEDURES....................................................................................... 51 3.1. Procedure on the basis of State aid rules....................................................... 51 3.2. Procedure in relation to EC Directive 2003/54 ............................................. 51 4. ASSESSMENT ..................................................................................................... 52 4.1. Applicability of Article 86 of the EC Treaty................................................. 52 4.2. State measure contrary to Article 82 and Article 86...................................... 53 4.2.1. The relevant markets ...................................................................... 54 4.2.1.1. The relevant product markets .......................................... 54 4.2.1.2. The relevant geographic markets..................................... 55 4.2.2. Dominant Position.......................................................................... 57 4.2.2.1. Lignite ............................................................................ 57 4.2.2.2. Electricity wholesale....................................................... 58 4.2.3. The substantial part of the common market..................................... 58 4.2.4. The incompatibility of the State measure ........................................ 58 4.2.4.1. The legal framework ....................................................... 58 4.2.4.2. The State measures ......................................................... 59 4.2.4.3. Analysis.......................................................................... 59 4.2.4.4. Conclusion...................................................................... 72 4.2.5. No justification under Article 86 (2)............................................... 73 4.2.6. Effect on trade between Member States .......................................... 73 4.2.7. Remedies........................................................................................ 73 ************** 3 THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, and in particular Article 86 (3) thereof, Having given the Greek authorities and Public Power Corporation S.A.(PPC) the opportunity, by letters of 1 April 2004, of 3 May 2004, of 21 September 2005 and of 18 October 2006 respectively, to make known their views on the objections raised by the Commission with regard to Greek legislation relating to lignite extraction rights, Whereas: 1. THE FACTS 1.1. The company 1. PPC is a corporation seated in the Municipality of Athens, Greece. It is one of the largest industrial enterprises in Greece in terms of fixed assets1, active mainly in Greece and in the sectors of electricity and lignite. As of the end of 2006, PPC had 26 208 employees. In the year 2006, PPC achieved total revenues of 4 787 million €, and a net income after tax of 22 million €. 1.1.1. The statutes of the company 2. PPC was established in 1950 by the Greek Law 14682 as a 100% state-owned Public Corporation with exclusive right to generate, transport, and supply electricity throughout Greece. 3. In 1996, Law 2414/1996 for the modernisation of the Public Enterprises granted the Hellenic Republic the right to transform PPC into a shareholding company with a single share holder, the Hellenic Republic. 4. On 1 January 2001, pursuant to Article 43 of Greek Law 2773/1999 for the Liberalisation of the Electricity Market, inter alia transposing EC Directive 96/923, the first EC directive liberalising the electricity market, and pursuant to the Presidential Decree 333/2000, PPC was transformed into a “Société Anonyme” with a share capital of 222 billion GDR (650 million €). On 12 December 2001, PPC issued for the first time shares on the Athens Stock Exchange House as well as Global Depositary Receipts on the London Stock Exchange. The Hellenic Republic further sold some of its shares in December 2002 and October 2003. 1 PPC total assets amounted to 12 938 million Euros at the end of 2006, according the consolidated financial results for 2006 published by PPC on 30 March 2007 (available on PPC’s website http://www.dei.gr). 2 Official Journal of the Hellenic Republic, volume A, issue 169. 3 Directive 96/92/EC of the European Parliament and of the Council of 19 December 1996 concerning common rules for the internal market in electricity Official Journal L 027 , 30/01/1997 P. 0020 - 0029 5. According to Article 43 paragraph 3 of Law 2773/1999, the participation of the Hellenic Republic in the capital stock of the company at any time cannot be less than 51% of the voting shares of the company even after each increase of the capital stock. Thus PPC is controlled by the Hellenic Republic. Current shareholders of PPC’s capital are shown in the table below: Table 1 Shareholding in PPC as of 31.12.2006 Shareholder % of shares The Hellenic Republic 51.12 OAP – PPC (the Pension Fund of PPC employees)4 3.81 Fidelity Investments 5 Free float. Athens and London Stock Exchanges 40.07 6. According to Article
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