Minister: Troubled PPC to request power disconnection for up to 30K consumers with arrears

Monday, 07 Oct 2019 12:55 UPD: 12:55

The relevant development and energy minister on Monday said state-run Public Power Corp. (PPC), the dominant but debt-laden electricity utility in the country, has requested service disconnection for up to 30,000 consumers with outstanding arrears to the ATHEX-listed company.

PPC's request is towards the autonomous grid operator.

In qualifying the latest "get tough" policy vis-a-vis so-called "strategic defaulters", Minister Kostis Hatzidakis told a television current affairs program that possible "mistakes" will be immediately rectified, when asked if households in need will be included in the mass disconnections.

Hatzidakis added that based on the current conditions, a further privatization of PPC cannot proceed, given that accumulated losses and other structural problems mean that there is no investor interest. He added that the goal for the current center-right government is to lure a strategic investor for the power utility.

One short-term remedy to keep PPC afloat is a partial privatization of the Hellenic Electricity Distribution Network Operator (DEDDHE), he added.


Recommended for you