Team size: Three

Which recent political, economic, or regulatory changes have impacted the company and the team the most?

In 2021, as a result of the post Covid-19 social and economic recoveries and the rise of international NG prices, there was a significant rise of electricity and natural gas (NG) prices in Greece. While complying the regulatory requirements by the public authorities, Elpedison legal focused on getting the right balance between satisfying the consumers’ rights and protecting the company’s interests.

As a vertically integrated power generation and supply company which is part of the Hellenic system of security of supply, Elpedison Power Generation undertake a systemic role within the framework of the power supply. In these unprecedented times, as an in-house legal team, we are fully aware of the gravity and importance of the major legal issues including but not limited to the law of emergencies and combined cases of force majeure invocation. The existing issues in the market has been compounded by the war in Ukraine; and our legal team is doing our utmost to respond to the effects of the war for our company and clients.

In what ways do you see the in-house legal role evolving in your region over the next few years?

Greece, a major player for the Southern Europe’s economic and political stability, is recovering from a long history of indebtedness and the Covid-19 pandemic. The official announcement by the public financial authorities has shown that a significant economic growth is expected in the aftermath of such period. Given that Ukrainian crisis and the evolution of the energy market issues will not halt such growth, the opportunities for major investment and financial development shall continue to appear in Greece. Within these circumstances, the role of general counsel should rapidly evolve to that of a senior corporate officer, involved in the management, governance, and the decision-making process of major entities.

How has the increasing consciousness of climate change and sustainability affected the company and the team’s priorities?

In Elpedison, the responsibility towards environment, local communities, and stakeholders are all embedded within our corporate culture and philosophy. In full compliance with ESG targets, we focus on reducing GHG emissions, safeguarding biodiversity, and ensuring the health, safety, and well-being of our employees. Sustainable development is a part of our every-day management of our business activities, as well as a strategic factor of our business model. Adopting the strategy from the European Green Deal, we are committed to reducing emission by least 55 percent by 2030. We also support the vision presented in the EU 2020 Program – Energy 2020, A Strategy for Competitive, Sustainable and Secure Energy, focus on new synergies between the social, economic, and industrial institutions, for the achievement of a more sustainable development.