PPC CEO doesn’t rule out rate hikes

12 February 2019
111 Views

The head of Greece’s state-run Public Power Corp. (PPC), the dominant electricity provider in the country, on Monday did not rule out rate hikes.

PPC president and CEO Manolis Panagiotakis attempted to preclude expected criticism by claiming that rates were “cheap now, and will remain cheaper than when we assumed (PPC’s helm).”

Panagiotakis made the statements to a web TV program.

He added that ATHEX-listed PPC will again issue an international tender to sell-off four lignite-powered power units and a mature license for another unit. The previous tender was ruled null and void days ago by the utility, which said the two offers were below market value.

The EU’s competition directorate has demanded a reduction of PPC’s dominant position in Greece’s energy market and further liberalization, a prior action also cited in the third memorandum. Nevertheless, on Monday, Panagiotakis said the company actually wants the sell-off, in order to “turn towards green energy”.

You may be interested

Top 5 Beaches in the Cyclades
GREECE
shares14 views
GREECE
shares14 views

Top 5 Beaches in the Cyclades

Panos - Apr 23, 2019

The Cyclades are filled with beaches ranging from pleasant to amazing, but for those who love lists, here are the…

White House announces end of US sanction waivers for Iran oil imports
FINANCE
shares21 views
FINANCE
shares21 views

White House announces end of US sanction waivers for Iran oil imports

Panos - Apr 23, 2019

The White House says the US is ending exemptions from sanctions for countries that import Iranian oil. In a statement,…

Booking.com: 72% of tourists call for green travel to save the planet for posterity
GREECE
shares15 views
GREECE
shares15 views

Booking.com: 72% of tourists call for green travel to save the planet for posterity

Panos - Apr 23, 2019

As the world gears up to celebrate Earth Day on 22 April, Booking.com has released findings from its annual sustainable…

Leave a Comment

Your email address will not be published.