Public Power Corporation

While more delays are holding up the privatization of Public Power Corporation (PPC) and gas grid operator DESFA, the concession of some of the country's marinas is moving on.

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.

Public Power Corporation (PPC), Greece's dominant power utility, sees core profit of around 700 million euros this year, down from about 1 billion euros in 2016, its chairman said on Friday.

Bad news is coming to Public Power Corporation from Brussels, as a probe by the European Commission's Directorate General for Competition (DG Comp), which started with the unexpected arrival of inspectors at the offices of PPC and grid operator ADMIE earlier this month, has confirmed concerns about the power giant's possible abuse of its dominant position.

The 622 million euros that Public Power Corporation (PPC) has collected from the sale of the Independent Power Transmission Operator (ADMIE) will not remain in its coffers for long, since its total obligations to suppliers, contractors, market entities and others exceed 1.8 billion euros.

Public Power Corporation (PPC) is playing down the impact of a huge landslide at a lignite mine in the region of Kozani, in western Macedonia, which forced the evacuation of a nearby village.

French support for the cause of easing Greece's debt burden, as expressed by France's Economy Minister Bruno Le Maire, gave the Athens bourse benchmark enough of a push to shake off the Public Power Corporation pressure on Monday, with the vast majority of stocks notching up gains.

A destroyed road near the lignite coal mine area, where a huge landslide occurred near Amyntaio, Monday. Big masses of soil moved about 40 meters, causing dozens of residents of nearby village Agioi Anargyroi to evacuate their homes. A large portion of the mine collapsed and four excavators were crushed under tons of soil.

The Greek bourse continued to slide on Wednesday, led by bank stocks and Public Power Corporation, with traders waiting to see how the new round of negotiations with the country's creditors goes ahead of next week's Eurogroup, as demostrated by another day of low turnover.

Greece's main power utility Public Power Corporation secured shareholders' approval on Tuesday to sell part of its grid operator to the state, a final step in concluding the spin-off of the grid next month.

Asset sales are a key condition of the multi-billion-euro bailout Greece signed up to in mid-2015, its third since 2010.