Public Power Corporation
OpenCalais Metadata: Ticker
By Chryssa Liaggou
Public Power Corporation is planning to tap the markets after Easter with the issue of a corporate bond to draw 500 million euros.
The Energy Ministry is also eagerly awaiting the issue, as it is hoping it will enable the full clearance of electricity market debts, which according to the bailout agreement is due by end-2014.
The cost of electricity appears set to increase for low household consumption (of up to 800 kilowatt-hours per four months) and decline for low- and medium-voltage commercial consumers through the termination of so-called cross-subsidies, demanded by the countrys creditors through the revised bailout agreement.