Public Power Corporation

The Public Power Corporation (PPC) board approved a proposal by the Greek state, the basic shareholder, to offer additional discount up to 20% to electricity rates for large electricity consumers during 2016-2017 period.

Prime Minister Alexis Tsipras set out his policy priorities in Greek Parliament on Monday night as he unveiled a tough budget. Tsipras outslined three main objections:

– debt relief
– bank recapitalization
– attracting foreign investments

Financial Crimes Squad (SDOE) has launched a probe into the advertising budget of Public Power Corporation up until 2014, on the instructions of Minister of State for Combating Corruption Panayiotis Nikoloudis.

 Gov?t is planning to examine French model of power production auctions for third-party access

By Chryssa Liaggou

The French model will be used for the liberalization of the Greek electrical energy market, according to a speech by Finance Minister Yanis Varoufakis at the European Business Summit in Brussels on Thursday.

The telephone call between Prime Minister Alexis Tsipras and European Commission chief Jean-Claude Juncker turned things around at the Greek bourse on Wednesday, with morning losses giving way to afternoon gains. The benchmark closed near the day?s high, back above the 800-point level.

By Chryssa Liaggou

The partial rather than complete lifting of distortions in the electricity market has worked in favor of imports and has not produced an increase in lignite use, as expected, the official data of the Public Power Corporation and the Hellenic Electricity Market Operator (LAGIE) showed for 2014 and the first quarter of 2015.

A few days after issuing a decree obliging state companies to hand over their cash reserves to the state, Finance Ministry officials on Wednesday sought to spread the net as wide as possible to ensure authorities can pay civil servants? salaries and pensions this month.

The tax office commissioned to investigate the finances of those on the Lagarde list and dig deep to find the country's most powerful tax offenders has been without electricity for two days running.

The benchmark of the Greek bourse on Tuesday recorded a new 31-month low as many investors appear to be disengaging themselves from the ominous conditions of the local market.

The Athens Exchange (ATHEX) general index ended at 704.74 points, shedding 3.33 percent from Monday?s 728.98 points.