Electricity

Public Power Corporation won’t be privatized further

Published

September 28, 2015

Country

Comments

0

Share

Published:

September 28, 2015

Country:

Comments:

0

Share

There are no plans for the state’s share in Public Power Corporation (PPC) to diminish, according to Panos Skourletis, minister for productive reconstruction, energy and environment, Greek Reporter portal said. He addressed the future of the government-controlled utility and the future of energy in Greece during an interview with RealFM 97.8 radio station.

The state currently owns 51%, and the remainer is controlled by private holders. Skourletis noted that PPC, or DEI in the Greek acronym, produces 80% of national power output, according to the Hellenic Republic Asset Development Fund (Taiped), which owns 17% of the 51% state share. The previous Syriza-Anel government had halted plans for PPC’s further privatization.

Greece’s Independent Power Transmission Operator (Admie) is also a matter of concern in the third memorandum with the creditors, the article said. Admie is owned by PPC. A privatization process of Admie had begun in 2013 and four final candidates had been shortlisted for a 66% stake takeover. However, the government had stopped negotiations following its ascent to power in January 2015. The new Greek bailout arrangement calls for the resumption of the privatization process.

A new energy utility company should be constructed, but it should also remain state-owned, Skourletis said. The minister had denied the possibility of Admie’s privatization back in July 2015.

Related Articles

dusan zivkovic eps general manager elektroprivreda srbije

Dušan Živković appointed as general manager of Elektroprivreda Srbije

15 June 2024 - The Supervisory Board of the joint stock company Elektroprivreda Srbije has appointed Dušan Živković as the general manager

Rezolv secures EUR 191 million loan for Vifor wind farm in Romania

Rezolv secures EUR 291 million loan for Vifor wind farm in Romania

14 June 2024 - The beneficiary of the loans is First Looks Solutions S.R.L., project subsidiary of Rezolv Energy and Low Carbon

eps transformation plan djerdap 1

Serbia’s power utility EPS adopts Transformation Plan

14 June 2024 - By adopting the Transformation Plan, Serbia has met an important structural benchmark within the framework of the arrangement with the IMF

bulgaria NEK pumped storage hydropower batak dospat

Bulgaria’s NEK gets help to prepare construction of two large pumped storage hydropower plants

14 June 2024 - The pair of new renewable energy sources, named Batak and Dospat, will each add generation capacity of approximately 800 MW