Public Power Corporation
PPC plant auction fails to attract any bidders, again
The tender for Public Power Corporation's four lignite-powered plants proved barren once more, as the troubled utility on Monday said that there have been no bids for the units at Meliti and Megalopoli, even though no minimum price was demanded from investors.
Electricity network 'stretched to its limits,' minister says
In comments to Skai on Friday, Energy Minister Costis Hatzidakis said he could not rule out the possibility of power cuts as the country's electricity network "is stretched to its limits."
Efforts are being made to ensure that the network operates as smoothly as possible, he said. noting however that extended neglect has taken its toll.
PPC head Panagiotakis resigns
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."
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PPC’s Panagiotakis resigns as CEO as company faces tough choices
The Public Power Corporations' President and CEO, Manolis Panagiotakis, submitted his resignation today at a meeting with newly-appointed Environment and Energy Minister Kostis Hatzidakis.
At the request of the minister Panagiotakis has reportedly agreed to stay on in his post pending the appointment of a successor.
PPC head calls for drastic solutions
A day before the publication of Public Power Corporation's first-quarter results on Friday, which will reveal the extent of the utility's financial troubles, the corporation's chairman and chief executive officer chose to present an account of his time in office at PPC's annual general meeting.
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Panagiotakis approves entry of strategic investor in PPC
The Public Power Corporation's (PPC) President and CEO Manolis Panagiotakis today told the embattled company's Annual Shareholders' Meeting today that the two options that lie ahead if the hugely indebted company is to stand on its feet are either to maintain the Greek state's position as majority stakeholder with a radical restructuring of the framework of operation and the state's role or to
Mytilineos concerned about PPC, may opt out of power unit tender
Mytilineos group head Evangelos Mytilineos has expressed concern over the future of Public Power Corporation, suggesting his company could withdraw from the tender for PPC's lignite-powered units.
PPC admits to money problems
The management of Public Power Corporation is seeking ways to improve the picture of its financial results. In a statement on Thursday it effectively confirmed Kathimerini's report about the economic impasse the utility has come to and its anxiety to improve the terrible results observed in the first quarter which may signal very negative developments for the country's biggest corporation.
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Editorial: Criminal negligence on the future of PPC
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.
PPC is on the brink of collapse
Public Power Corporation is in a state of emergency, with the utility's management currently engaged in a desperate effort to secure 300 million euros in cash in the next 10 days, which would avoid the activation of clauses forcing the immediate repayment of loans due.
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