ENERGY: EDISON; EU OKS JV WITH HELLENIC PETROLEUM
(ANSAmed) - BRUSSELS, AUGUST 28 - The EU Commission gave the
green light to the joint venture company between Italian group
Edison and Greek Hellenic Petroleum on the Greek market of the
generation and wholesale supply of electricity. The operation,
according to the European Antitrust authority, ''does not hinder
significantly the actual competition in the European economic
environment''.
In particular, the services of the EU Commissioner for
competition, Neelie Kroes, remarked that ''all the overlaps
between the activities of Edison and Hellenic Petroleum are
limited, and that the market share of the joint venture would
not be significant compared to the current total generation
capacity in Greece''.
The target of the new company is to generate a production
capacity of over 1,500 MW, equal to 12% of the production on the
Greek market. The joint venture would thus become the second
electricity operator in Greece. (ANSAmed).