Covering arrears by 'strategic defaulters' the troubled utility's main priority

Friday, 23 Aug 2019 15:06 UPD: 15:08
Eurokinissi / ΣΤΕΛΙΟΣ ΣΤΕΦΑΝΟΥ

Loss-making Public Power Corp.’s (PPC) new management on Friday listed the covering of arrears by so-called “strategic defaulters” as the utility’s biggest priority.

As such, Greece’s dominant power supplier has requested stepped up suspension of service to customers with major arrears.

To date, the state-run utility has cited more than 582,000 “strategic defaulters” corresponding to more than 545 million euros in arrears. Total outstanding debts owed for electricity exceed one billion euros.

In a bid to rescue Greece’s biggest industrial concern from the throes of insolvency, the ATHEX-listed utility has conveyed more than 30,000 requests to the independent grid operator for disconnections over the past two months – an initiative that will, however, exclude subsidized households.

In a statement, new PPC CEO and president Giorgos Stassis said the massive phenomenon of consumers and businesses unwillingly to cover arrears directly affects millions of conscientious customers.

English

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