Greece΄s government Thursday announced plans to raise regulated electricity tariffs by up to 9.2% next year in an effort to shore up the country΄s state-owned electric utility, Public Power Corp SA (PPC.AT).
In a statement, the environment ministry said PPC “must remain a healthy company” and that spiking operating costs imperiled the company΄s profit margins and ability to service its debts.
“This increase, in combination with a series of other measures to reduce costs at PPC, will cover the burdens of the company, ensure its viability and allow it to refinance its debts,” the statement said.
(source: Dow Jones)
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!
