ND again demands explanations over PPC purchase of energy firm in fYRoM owned by cabinet member

10 October 2018
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A main opposition New Democracy (ND) spokeswoman on Tuesday again called for explanations by the Tsipras government over the purchase of an energy company in the neighboring Former Yugoslav Republic of Macedonia (fYRoM) by Greece’s dominant power utility, state-run Public Power Corp. (PPC).

“At a moment when Greeks citizens are paying dearly for a collapsing PPC, the government forces it (PPC) to purchase, for 4.8 million euros, a Skopje power company that last year posted damages of 5.4 million euros,” ND’s Maria Spyraki charged.

She also reminded that before the sale the principal owner of the company in question, EDS, is a current vice-premier in the Zaev coalition government in Skopje.

Spyrakis’ comments echoed previous ND criticism of the deal.

ND sector head and MP Vassilis Kikilias in early September had referred to a “political decision” to purchase EDS by ASE-listed PPC, and demanded to know who gave the “green light”.

EDS’s primary shareholder at the time of the sale is the current vice-premier for economic affairs, Koco Angjuse.

The insinuation by the center-right party is that the transaction – between the Greek utility and a company owned by a Cabinet minister in Skopje – preceded the landmark Prespa Agreement between the Tsipras and Zaev governments to finally resolve the nagging “name issue” between the two neighbors – as well as blocking fYRoM’s Euro-Atlantic integration.

EDS was founded in 2012 and has subsidiaries in Serbia, Slovakia and Kosovo. The group is also a member of the Hungarian Power exchange (HUPX), with trading licenses for Serbia, Kosovo, Croatia, Bulgaria and Hungary.

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