Greece’s and Europe’s energy markets are undergoing a profound transformation. Rising demands for system flexibility and stability, volatile pricing, and the need for reliable, competitive supply have created a new environment—where a company’s value is no longer judged by its activity in just one segment, but by its ability to operate cohesively and efficiently across the entire energy value chain.
A Vertically Integrated Energy Group
In this context, DEPA Commercial is steadily evolving into a vertically integrated energy group, strengthening its presence across the full spectrum of the market: from wholesale trading and retail supply to electricity generation. Drawing on years of experience across all stages of the value chain, its strategy centres on building an integrated operating model—where different business segments complement each other, generating synergies that enable better resource utilisation, greater operational flexibility, and a stronger competitive position.
Entering Power Generation
A cornerstone of this strategy is DEPA Commercial’s entry into electricity generation through modern thermal power units. These facilities enhance power system adequacy and serve as a stabilising pillar amid growing flexibility requirements.
At the heart of this effort is the new, state-of-the-art combined-cycle natural gas power plant in Larissa—rated at 792 MW with a net efficiency of 62.6% and a total investment exceeding €600 million. This high-technology project significantly upgrades DEPA Commercial’s role in electricity generation while contributing meaningfully to optimising Greece’s energy mix, boosting competition, and lowering energy prices for households and businesses.
DEPA Commercial’s involvement in other generation assets further supports its vertical integration strategy: the 840 MW power plant in Alexandroupoli—also featuring high efficiency—and its participation in the 174 MW Fier power plant in Albania. Together, these projects reinforce its growing footprint in power generation and foster cross-chain synergies across the regional energy landscape.
Strengthening Retail Presence
This vertical integration model is complemented by DEPA Commercial’s strong presence in the retail market via its subsidiary Physsiko Aeri Eliniki Etairia Enereias (Natural Gas Greek Energy Company). This enables the group to deliver comprehensive energy services directly to end consumers.
Building a robust retail customer base provides stability, improves demand forecasting, and allows more effective leveraging of wholesale trading capabilities.
Overall, DEPA Commercial’s evolution reflects a broader shift—from a traditional energy player to a fully integrated energy group active across the entire value chain.