Power utility PPC to compile list of units up for sale; autumn market test cited

20 June 2017
763 Views

Greece’s state-run and dominant power utility (PPC) will reportedly announce the lignite-fired units that it will place on the selling block in a matter of weeks, with Athens expected to forward a relevant list to the EU Commission.

The development stems from a recent ruling handed down by the Court of Justice of the European Union (CJEU), which judged that the Public Power Corp.’s exclusive exploitation of the country’s lignite deposits for its lignite-fired units is a monopoly.

The Commission, on its part, has also maintained that listed PPC, once Greece’s only power supplier in every category, should reduce its dominant position in the retail electricity market by selling off a portion of its power generating units.

The current leftist-rightist coalition government is already desperately trying to implement various memorandum-mandated prior actions, which besides fiscal targets, include several market-friendly liberalizations — especially in the energy and transport sectors.

The list of proposed units for sale will be sent to Brussels for review, with the relevant minister promising to proceed with a market test in the fall of 2017 in order to gauge investors’ interest.

You may be interested

Coronavirus Greece – Zero deaths, 9 new cases reported
GREECE
shares21 views
GREECE
shares21 views

Coronavirus Greece – Zero deaths, 9 new cases reported

Panos - Jul 06, 2020

The National Public Health Organisation (EODY) announced 9 new cases of coronavirus in Greece the last 24 hours, with 7…

Mitsotakis to FT: No Troika-like conditions for aid via EU Rehabilitation Fund
FINANCE
shares14 views
FINANCE
shares14 views

Mitsotakis to FT: No Troika-like conditions for aid via EU Rehabilitation Fund

Panos - Jul 06, 2020

PM Kyroiakos Mitsitakis made it clear in an interview to Financial Times that his government would not accept any strict…

Weather forecast: Clouds, rain
GREECE
shares13 views
GREECE
shares13 views

Weather forecast: Clouds, rain

Panos - Jul 06, 2020

Unsettled weather and northerly winds are forecast for Monday. Wind velocity will reach 6 on the Beaufort scale. Clouds, scattered…

Leave a Comment

Your email address will not be published.