Political leadership honours the memory of Andreas G. Papandreou

Political leadership honours the memory of Andreas G. Papandreou

Athens, June 24, 2016/Independent Balkan News Agency

By Spiros Sideris

PPC plans to sell part of its customer portfolio, recommending retail companies with other suppliers to reduce its stake under the terms of the third memorandum, albeit smoothly, said the head of the Corporation Manolis Panagiotakis by step Conference the Economist.

The first company to be created, it will get as dowry approximately 400,000 electricity customers and will be available for sale to private competitors electricity suppliers. It is planned to be ready in September.

The creation of a subsidiary company in which “offered” approximately 400,000 electricity customers and will be available for sale to private competitors electricity suppliers announced by the step of the Economist conference, the president and CEO of PPC, Manolis Panagiotakis.

The aim, he said, is to smoothly decrease of PPC’s market share, which according to the memorandum must be reduced to 50% by 2020 (currently above 90%) and cancel any prospect of destabilization of the company and overall electricity market.

The first company to be created with 400,000 customers (equivalent to 6-7% of the market) expected to be ready in September, while the design provides and follow others.

Customers will be selected in a representative manner, which will include the less profitable categories and borrowers with overdue obligations.

The incentives offered by the PPC to be attractive “package” includes the provision of fixed wholesale market price of energy to the company, for a reasonable period.

The proposal, as the same, is aimed at those involved in the market in the long term and strategically targeted and will give PPC the amount of time to develop new markets to compensate for the loss of electricity.

He said that customers are fastened to PPC (Public, high voltage, farmers, consumers with overdue obligations) today account for 55% of the market. Therefore there is a risk reduction of PPC share lead to loss of all profitable customers.

Mr. Panagiotakis also called “liberation” of PPC from government bonds noting that through the state company made social, insular, agrarian and fiscal policy.

Interesting called the proposal PPC Vice President of the Italian Edison, R.Poti, who even noted that taxes and charges administered in previous years are being squandered the advantage would the consumer by reducing the wholesale price of electricity.

The president of Elpedison Spiros Andreas raised from the side of the question whether the discounts 15% of PPC’s tariffs and the prohibition of changing supplier if there are arrears in the past, serve the purpose of reducing the share of PPC.

The Chairman of TERNA George Peristeris said the market restructuring is slow, with half measures and setbacks, and stressed the need to exploit the potential of renewable energies and promoting the islands interfaces.

General Energy Secretary Michael Verroiopoulos stressed that numerous distortions and mechanisms out of the market led the recent years in increasing the cost of electricity, and announced that it would soon enter into consultation bill to reorganize the electricity market that restores transparency and link the Greek with the European market.

The CEO of DESFA Constantine Xifaras also announced that tomorrow at Sidirokastro signed the interconnection agreement between Greece-Bulgaria gas transportation systems that will allow cross-border trade in gas pipeline.