Net loss came in at 8.9 million euros ($9.70 million) last year versus a loss of 18.4 million euros in 2021.

PPC said that it booked a 177.5 million euro gain from reversing an impairment for its investment in its new Ptolemaida V coal plant.

It said that coal-fired generation was not loss-making any more amid the energy crisis.

The utility will stick to its commitment to distributing a dividend in 2024, it added.

PPC has more than 600 megawatt of installed renewable energy capacity and has secured permitting for green projects of over four gigawatt, it said.

($1 = 0.9177 euros)

(Reporting by Angeliki Koutantou;Editing by Elaine Hardcastle)