The Development Program of EDA THESS, amounting to € 145 million, was approved

The five-year Development Program 2020-2024 of EDA THESS was approved by RAE (Decision 677/2020), which foresees investments of € 145 million.

The Program includes all the Company’s activities and was prepared based on strict economic, commercial, technical, and environmental criteria that ensure the strong development of EDA THESS, also for the next five years. In particular, EDA THESS drafted the Program by examining the below parameters:

• The natural gas demand in the geographical areas of activity and the connection needs of new End Customers
• The improvement of the efficiency and effectiveness of the Distribution Network and the insurance of its proper operation
• The fulfillment of public service obligations and the security of gas supply in a credible way
• Improving the efficiency and quality of provided services
• The implementation of new technologies and as far as possible united technical specifications
• Expanding the use of Natural Gas, aiming at regional development and ensuring the availability of new Distribution Users, under financial, technical, functional and efficiency conditions
• The financial efficiency of works which are included in the Development Program, as described in article 12 of the Tariff Regulation (OGG B’ 3067 / 26.09.2016), as well as the possibility of their financing
• The Framework for Distant Distribution Networks Development with CNG/LNG (OGG Β’ 3334/10.08.2018)
• The environmental protection

Specifically, the 2020-2024 Development Program foresees the expansion of low and medium pressure network by 510 km and the increase of the natural gas penetration rate in the areas of its License to 74%, from 61% that is today. The network’s development is expected to bring 90 thousand new delivery points (meters), to the already impressive number of 350 thousand activated meters managed by EDA THESS (in total about 470 thousand nationwide) while the distributed gas volumes are expected to exceed 523 million cubic meters in 2024.

The €145 million that the Company will invest by 2024, of which € 91 million concerns the Regional Unit of Thessaloniki and € 54 million the Region of Thessaly, will be added to the €580 million already invested by now in networks, infrastructure, connections and new technology and worthily confirm the position that the Company now holds among the largest energy groups in Europe.

 

As noted by the General Manager of EDA THESS, Mr. Leonidas Bakouras:

 

“The approval of the five-year program by RAE confirms the excellent cooperation we maintain with the Authority and at the same time is a large vote of confidence towards our Company. EDA THESS will invest € 145 million in the period 2020 - 2024  in the networks’ expansion, the modernization of its operations and the upgrade of its services, with the aim of reaching the gas in every house, business and industry of Thessaly and Thessaloniki, with the lowest distribution tariffs. The new development program demonstrates the Company's steady upward course in the energy sector nationwide, while at the same time supports the country's economy by implementing sustainable investments. "