PPC

The plan to save the Public Power Corporation (PPC) was presented today by Energy Minister Kostis Hatzidakis who briefed the Parliamentary Committee on Production and Commerce on the government's efforts to clean up the company.

No one has any delusions about the state of Public Power Corporation. There is no easy way to overcome the troubles dogging Greece's biggest public utility, which is too big to be left to its fate.

Public Power Corporation could collect about a quarter of the 2.7 billion euros in unpaid bills as part of the government's effort to prevent the utility from going bankrupt, but this has to be done with great care, a finance professor and dues payment expert tells Kathimerini English Edition.

The new government's strategic plan for streamlining and restructuring Public Power Corporation will start with the part-privatization of the Hellenic Electricity Distribution Network Operator (DEDDIE).

Public Power Corporation (PPC) chief Manolis Panagiotakis stepped down on Wednesday as chairman and chief executive officer of troubled state utility, tendering his resignation to new Energy Minister Costis Hatzidakis, saying that his decision aims to "make it easier for the government to implement its policy."

Greece's newly-elected conservative government will work on a plan to help state-controlled utility Public Power Corp. (PPC), which is "on the verge of collapse", incoming energy minister Costis Hatzidakis said on Tuesday.

The Public Power Corporation time-bomb about which many have warned for quite some time appears ready to explode.

The country's largest company and a pillar of growth is literally in danger of collapsing due to the tragic mistakes of its management and of the government.

Public Power Corporation consumers will see a reduction in their bills of about 6 percent, thanks to the reduction of the value-added tax on power, PPC chief Manolis Panagiotakis said on Wednesday.

By Antonis Karakousis

There are certain public issues that reveal the quality of governance.

One such is the case of Greece's Public Power Corporation (PPC).

A number of energy-intensive industries are planning to join forces for the acquisition of the Public Power Corporation's coal-fired unit at Meliti in western Macedonia.