Tectonic changes are expected in the electricity market ahead of the agreements that have been brewing for several months between large groups, with the supply sector acting as an accelerator of the market restructuring process toward concentration around three or four major entities.
With PPC remaining dominant in the game (51.9% share in January 2025) and Metlen, through a series of acquisitions of smaller companies (Watt+Volt, Unison, EfA Energy, Volterra) having achieved the position of the second largest supplier (close to 20% share), the baton of movements has passed to the other three vertically integrated groups, Helleniq Energy, Motor Oil and GEK Terna.
Before the outcome of the Motor Oil-GEK Terna talks, anything is possible. Helleniq Energy has not fully unveiled how it will proceed after the acquisition of 50% of Elpedison, while it has set a goal of raising its supply market share from 5.95% to at least 10% by 2026 today. Metlen, which remains interested in Elpedison and generally in Helleniq Energy if its shareholders (Latsis group and the Greek state) decide to sell, has set a goal of increasing its share to 30% in 2026.