Greece
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PPC

Greece to Present 500-Million-Euro Rescue Plan for Struggling Public Power Utility

The new President and CEO of the Public Power Corporation (PPC), Greece's struggling public power utility, will present a 500-million-euro rescue package to the company's board on Friday. According to the Athens-Macedonian News Agency (AMNA), rate hikes will be offset by...

Greek Public Power Cooperation Records Huge Losses

The Greek Public Power Corporation (PPC), the largest publicly-owned utility in the country, announced on Tuesday losses amounting to 542 million euros for 2018. PPC’s turnover in 2018 amounted to 4.7 billion euros, compared to 4.9 billion euros in 2017....

Greece Approves Power Plant Sales Despite Angry Protests

Greek lawmakers on Wednesday approved the sale of power stations by Greece's dominant power utility Public Power Corp. (PPC) in spite of workers demonstrating by placing emptying sacks of coal outside parliament. A majority of lawmakers voted in favor...

Greece Finalises Deal with Lenders to Sell Coal-Fired Plants

Greece has finalised a deal with its official creditors on the coal-fired plants the country will sell to comply with an EU court ruling, Greek Energy Minister George Stathakis said on Friday. The deal concerns two lignite units in Megalopolis...

China Development Bank and Public Power Corporation to Sign MoU in Thessaloniki

China Development Bank (CDB) and Public Power Corporation (PPC) will sign a memorandum of understanding (MoU) on Saturday, September 9, in Thessaloniki, during a conference organized within the framework of the 82nd Thessaloniki International Fair (TIF). The conference, entitled "Investment...

Greece's National Electric Company PPC Dealing with Major Theft

Many Greek citizens have not paid their electricity bill and have decided to steal electricity instead. Electricity theft is costing Greece’s dominant power utility Public Power Corporation (PPC) about 170 million euros in lost income each year, the company said...

Power Workers Threaten With Blackouts Over Impending Privatization of PPC

Public Power Corporation (PPC) worker unions are to meet on Thursday and Friday to discuss their reaction to the impending privatization of part of the company, according to chief of the technical employees union, Costas Maniatis. On Tuesday, Maniatis spoke...

PPC Labor Union Announces Strikes Against Sale of Power Production Units

The labor union of Greece’s power utility PPC announced on Monday it will call strikes against the government’s decision to sell some of the company’s lignite plants, its president Giorgos Adamidis told the Athens-Macedonian News Agency, after a meeting...

PPC Shareholders Approve Transfer of 51 % Stake in ADMIE

On Tuesday Greece's power utility Public Power Corp (PPC) approved the transfer of a 51 percent stake in the power grid operator ADMIE. The move is part of the series of privatizations specified in the bailout agreement that the country...

Tsakalotos, Stathakis Meet with Bank Managers Over ADMIE Sale

The actions needed to ensure the timely conclusion of the privatisation of the country's power grid operator ADMIE were discussed in a meeting between Finance Minister Euclid Tsakalotos, Environment and Energy Minister Giorgos Stathakis, along with the management of Greece’s...