The Greek government is launching a “barrage” of privatizations

The Greek government is launching a “barrage” of privatizations

A series of privatizations is planned by the Greek government in the foreseeable future. This mobility takes place at a time when the Greek government does not need immediate money, while Greek government debt has been regulated for at least 15 years.

Sources from the Greek Ministry of Environment and Energy even mention the sale of all Greek government shares from DEPA’s Commerce and Infrastructure activities, while a similar is considered likely for Hellenic Petroleum (HELPE). At the same time, everything is on the table on how to privatize the Hellenic Electricity Distribution System Operator. In essence, these are PPC’s distribution networks.

Beyond that, it looks like DEPA and not HELPE will be the first energy company for which privatization processes will start. As such, the legislation is being prepared, which will be tabled in Parliament in early October, along with the draft law on changes in the operation of the PPC that will amend provisions of the Stathakis law.

The percentages

It is worth noting that the percentage of DEPA Trading shares (Attica gas distribution operator, supply contracts, wholesale gas, gas, electricity supply) that are projected to be sold is likely to reach 100%. The existing institutional framework allowed the sale of 50% plus one share.

Also, the percentage of the sale of DEPA Infrastructure shares (share in in Attica and Thessaloniki gas distribution operators and the public gas network operator) is expected to range from 66% to 100%, while the current law stipulated the sale of a percentage below 49%.

Beyond that, according to reliable sources, the Greek government will retain a small stake in HELPE, meaning it will not sell its full 35.48% stake.

At the same time, the privatization model of HEDNO, the subsidiary of PPC, which includes the networks, remains to be determined./ibna