Main power utility PPC’s shareholder approval yesterday of an electricity tariff agreement reached between the corporation and electro-intensive industrial consumer Aluminium of Greece, following a long-running dispute that has included legal battles, has resonated positively throughout the industrial sector.

Besides bringing an end to the power utility’s dispute with one of the country’s biggest industrial players, the agreement also highlights PPC’s willingness to accept a long-standing Aluminium of Greece demand for a long-term industrial electricity tariff agreement, rather than a two-year deal, as has been the case until now. In doing so, the power utility will now need to also be prepared to offer long-term tariff agreements to other industrial corporations.

Based on comments made by PPC boss Manolis Panagiotakis, the utility appears ready to renegotiate new industrial power supply deals with customers beyond 2017, when agreements expire. Some customers could make moves before the end of 2017.

PPC’s recognition of the particular electricity needs of Aluminium of Greece helped the two sides reach a deal. Other industrial players are not expected to demand equivalent terms but, instead, aspects of this deal, including improved tariff levels.