PPC

Greek lawmakers on Wednesday approved the sale of power stations by Greece's dominant power utility Public Power Corp. (PPC) after workers protested at what they call a "national crime".

Workers at Greece's dominant power utility Public Power Corporation (PPC) took to the streets on Wednesday urging lawmakers to rescind the planned sale of power stations which they have branded a "national crime."

Hundreds of workers gathered outside parliament, as lawmakers debated legislation which paves the way for PPC to begin selling plants in May. 

The government is ceding control of the sale of Public Power Corporation's (PPC) lignite-powered plants, according to pledges made by Athens to the European Commission, Kathimerini has learned.

The entire process will be conducted by a so-called "monitoring trustee," who will have the role of on-the-spot inspector from the Commission's Directorate General for Competition (DGComp).

Public Power Corporation (PPC) is demanding a review of the criteria that customers must satisfy to qualify for the Social Tariff, in order to put a stop to those who fraudulently take advantage of the system at the expense of the power company and other consumers who cover the cost of the very low tariff.

The business plan of Public Power Corporation, including the list of the units to be put up for sale, will be supervised by the European Investment Bank, PPC's biggest creditor.

The Public Power Corporation (PPC) is teetering on the brink of bankruptcy. There are many factors at play that can explain this sorry state of affairs. But two stand out in particular: cheap populism and the uglier side of trade unionism.

Greek enterprises are particularly worried about the state of the electricity market, the uncertainty over the sustainability of Public Power Corporation (PPC) and the government's unrealistic plans for enhancing competition, as statements by the head of the Hellenic Federation of Enterprises (SEV) illustrated on Wednesday.

Workers at Greece's main power utility, Public Power Corp (PPC), will file an appeal to Europe's top human rights court on Tuesday, aiming to block the sale of some company assets and seeking recognition they own a stake in the business.

Energy Minister Giorgos Stathakis arrived on Friday in Kozani, northwestern Greece.

The Public Holdings Company (EDIS), a subsidiary of the Hellenic Holdings and Properties Company SA (the new hyperfund for state asset utilization), will receive the country's small regional airports and regional ports, the inner cabinet decided on Monday. However, no decision was reached on any major issues as the ministers will meet again once Public Power Corporation's fate is decided.