Public Power Corporation
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Gov't cannot avoid sale of PPC plants
The government is seeking a new line of defense against pressure from the country's creditors for a written commitment regarding the sale of 40 percent of Public Power Corporation's lignite and hydroelectric plants.
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PPC clients face extra levy
Electricity consumers are expected to be asked to pay an extra 600 million euros. This is the amount Public Power Corporation intends to claim through bills to cover the cost of public services such as the cost of supplying remote islands with power and special discounts for poor households.
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ATHEX: Stock traders come back down to earth
Tuesday's gains posted by bank stocks and the local bourse benchmark were wiped out on Wednesday on the realization that the second bailout review is nowhere near completion. The warning for Wednesday's drop for bank stocks had come at the end of trade on Tuesday, by which time their index had sunk to the day's low.
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Creditors ask Athens to sell 40 pct of PPC plants
A proposal presented to the Greek government by its international creditors for opening up the electricity market provides for the sale of 40 percent of Public Power Corporation's lignite and hydroelectric plants, on a tight schedule that sees a consultant being hired by August and completion of the process by July 2018.
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ATHEX: Banks and PPC lead stock price decline
Bank stocks and PPC led Wednesday's price slump in the Greek stock market, though the fears of a continued deadlock in talks between Athens and its creditors through spring were somewhat contained by statements from European Commissioner Pierre Moscovici in Athens. This led to a stop-loss move in the last hour of trading, but market concerns remain.
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ATHEX: Stock prices keep rising as investors expect deal
The Greek stock market is clearly reflecting investor anticipation of a positive outcome to the bailout review talks in the coming days, as it made additional gains on Monday to the significant jump recorded on Friday.
ATHEX: Stocks fall as confidence diminishes
Local stocks took some heavy losses on Wednesday, with banks suffering the most, as market confidence in Greece continued to evaporate, a fact also evident in the growth of bond yields. Investors were keen to walk away from Athinon Avenue, as shown by the increased turnover.
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Electricity companies looking for ways out of market impasse
Greece's entire electricity market is seeking an alternative plan to avoid a short circuit that would bust it, due to the risks created by the plan of former energy minister Panos Skourletis for the opening up of the market.
'I Won't Pay' policy has resulted in unpaid bills of 470 mln at PPC
A ministerial decision to let off debtors to the Public Power Corporation with unpaid electricity bills of up to 1,000 euros is costing the Greek power giant close to half a billion euros.
Power auctions rejected by all players
Two out of the country's three biggest alternative providers of electricity, Protergia, which belongs to the Mytilineos Group, and Elpedison, jointly controlled by Edison and Hellenic Petroleum, have openly disputed the model for power auctions aimed at reducing Public Power Corporation's market share.
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