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Tag Archives: PPC

Greece’s Public Power Company prepared in case Russian gas flow stops

Public Power Corporation has worked out a plan to secure power supplies under an “extreme” scenario of Russia halting gas flows to Europe, its top manager said on Wednesday. PPC, which is 34% owned by the state, generates 50% of electricity in Greece and gas accounted for about 40% of …

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PPC workers’ union GENOP-DEH to launch a 24h strike on Oct 19

The workers’ union of the Public Power Corporation (PPC), GENOP-DEI, has announced a 24-hour strike to be held on Tuesday, October 19. The strike has been scheduled to coincide with a meeting of PPC shareholders who will discuss increasing the company’s share capital. A protest gathering will be held in …

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PPC announces €750-million share capital increase plan; state to decrease participation

Greece’s Public Power Corporation is expected to complete a share capital increase plan worth around 750 million euros by early November, following a decision reached by its board on Thursday. At the same, time, it looks as if the state participation will decrease by 17%. Final approval to the plan …

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Australian Macquarie wins tender to buy 49% of PPC’s HEDNO for €2.1 billion

Spear WTE Investments Sarl, a member of Australian Macquarie Infrastructure and Real Assets Group (MIRA), on Friday was declared the highest bidder in a tender to buy 49% of Hellenic Electricity Distribution Network Operator (HEDNO) offering 2.116 billion euros. Public Power Corporation, in an announcement said that the offer was …

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PPC to drain 325 million euros from securitization transaction

Τhe Greek Public Power Corporation (PPC/DEH) announced the signing of contracts for the securitization of arrears with PPC expecting to drain up to 325 million euros from the market. The program, covered by contract claims has a duration of 5 years, including a two-year revolving period, and a three-year period …

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PPC cuts power supply to single-parent family with 3 kids amid the pandemic

While citizens are being tested in the most severe way due to the economic impact of the pandemic, power cuts continue leaving low-income families without light, heating and even education. Due to debts to the Public Power Company PPC, a single-parent family with three children was left in the darkness …

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Greece’s power company PPC to sell unpaid bills to JPMorgan

Public Power Corporation (PPC) , Greece’s biggest utility, is close to selling off a bundle of unpaid bills worth about 300 million euros in a secularization deal with JPMorgan, two sources close to the matter told news agency reuters on Tuesday. PPC, which is 51% state-owned, is struggling under a …

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Greece’s Public Power Company PPC offers discounts during the epidemic

Greece’s Public Power Corporation PPC/DEH is proceeding with discounts in order to help businesses and private persons suffering from the economic effects of the coronavirus outbreak. Starting on Thursday, March 26, 2020, and for the next three months, the PPC offers: cancels the fixed charges for low-voltage customers category Γ1 …

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PPC asks consumers to measure electricity consumption by themselves

The Greek Public Power Company (PPC/DEH) has reportedly asked consumers to conduct measurements on their home electricity consumption and declare it to the company officers. Consumers have denounced this to media. According to news website in.gr, PPC subscribers who have not received their bills for several months have turned to …

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PPC workers launch 48-hour strikes, except on floods-ridden Rhodes

Workers at Greece’s Public Power Corporation (PPC/DEH) started their 48-hour strikes at midnight Tuesday. the strikes are spread across the country, with the exception of the island of Rhodes that was declared in “state of emergency” due to the floods on Monday. The strikes are repetitive and will last until …

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PPC to offer discounts for annual or biennial customer subscriptions

Greece’s Public Power Corporation (PPC) has been preparing an aggressive commercial policy with a new model of discounts on electricity. The programme concerns consumers who will sign an annual or biennial contract, PPC sources revealed on Monday. According to the sources, the new pricing policy aims to preserve the company’s …

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Chairman of Greece’s Public Power Company (DEH) submits resignation

The economic situation and the fate of the Greece Public Power Company PPC (DEH) is top on the agenda of the new government. PPC Chairman and Managing Director, Manolis Panagiotakis, submitted hois resignation on Wednesday afternoon during the meeting with Energy and Environment Minister Kostis Hatzidakis. During the meeting with …

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Greek Public Power Company PPC at risk of “sudden death”, stocks -17.32%

Shares of Greece’s Public Power Corporation PPC plunged and recorded losses of -17.32 with the stock price at 1.728 at the end of Athens Stock Exchange session on Thursday’s following media reports about the tragic economic situation of the company. Greek PPC is reportedly looking for 300 million euros in …

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Crete: PPC cuts electricity to mother with disable child

Tuesday began for the mother of a 5-year-old disable child in the most shocking way. She saw how a team by the Greek Public Power Company PPC disconnected the power supply to her home, while she was preparing the child’s breakfast. The mother rents a modest home in a neighborhood …

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Greece’s power utility PPC records heavy losses, price hikes possible

Public Power Corporation (PPC), Greece’s main electricity utility, has recorded heavy losses last year and its own auditor warned about the firm’s sustainability. Experts say painful decisions may be required, including rate hikes and asset sales. PPC recorded after tax losses of 542 million euros (607 million U.S. dollars), according …

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