PPC CEO doesn’t rule out rate hikes

12 February 2019
213 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

Greek Salad with Fried Halloumi Cheese: An explosion of flavors and textures
GREECE
shares107 views
GREECE
shares107 views

Greek Salad with Fried Halloumi Cheese: An explosion of flavors and textures

Panos - Aug 23, 2019

Cheese lovers who haven’t tried halloumi, meet your new obsession. Halloumi is a semi-hard cheese originating in Cyprus. Made from…

The world’s tallest, and shortest countries are…
GREECE
shares73 views
GREECE
shares73 views

The world’s tallest, and shortest countries are…

Panos - Aug 23, 2019

Ever wondered which nationalities are the tallest? Or the shortest, for that matter? The interesting fact is that the top…

Central Council of Modern Monuments green lights Elliniko mixed-use project
FINANCE
shares39 views
FINANCE
shares39 views

Central Council of Modern Monuments green lights Elliniko mixed-use project

Panos - Aug 23, 2019

A day after the unanimous decision by the Central Archaeological Council (KAS), which paved the way for the lifting of…

Leave a Comment

Your email address will not be published.