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Greece’s Public Power Company to sell 500,000 customers in a tender

Greece’s Public Power Company (PPC/DEH) is ready to sell 500,000 of its customers and is awaiting for the necessary legislative arrangements by the government. The PPC management has already prepared a portfolio with the subscribers’ numbers of low- and medium-voltage users. However, several legal issues are open with regards to the customers’ rights.

The sale is an attempt to decrease the share of PPC in the power market. The sale of the half a million customers will take place though a tender.

According to economic news website euro2day.gr, the PPC management has set together a portfolio of consumers who have a contract with the PPC.

The website notes that one of the issues of the controversial planned sale is how the PPC customers will be forced to change energy supplier without their previous consent. Other issues are is whether the customers on sale will have the right to reject a contract with the new supplier or what intensives will be offered to remain with the new supplier. there have been some thought that the new supplier would offer a ‘premium electricity price” to these customers for a limited period of time. But for this, legislation changes would be due too.

In addition there is a legal issue with regards of the criteria according to which the PPC has chosen the customers on sale. Euro2day notes that these 500,000 customers have no debt to the PCC.

It is not known whether the Energy Ministry will accept the PPC planned sale, the website notes adding that also Greece’s lenders have not welcome the plan with particular enthusiasm.

Greece’s Public Power Company has a total of 7.3million subscribers and 2.7 billion euros debt (stand: June 2016) by customers who do not pay for the electricity consumption.

Private power suppliers have just a 2% share in the market, the majority of 136,600 power customers who left the PPC are usually big consumers. Despite the ‘generous’ electricity price offers  by private companies to low-consumption customers, the change often is not worth. The incentives may bring a very small benefit only for the first 6 months or up to one year.

Fact is that the Public Power Company, part of which is on the privatization list, would be left into a bad and a good company, just like according to the scheme for the banks. Bad PPC like a bad bank….

PS If the PPC uses my name, my bill and my money to cash money, I should also take a percentage share from the profit. What do you mean, it’s not possible?

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  1. Are you serious now?

    I changed supplier, they are supplying me with 0.075 EUR/kwh while DEI is 0.09450 EUR/Kwh, why is it not worth to change?