Available capital issue removed from IPTO meeting agenda

The newly appointed board at IPTO, the power grid operator, a subsidiary firm of PPC, the main power utility, did not examine the prospect of purchasing interest-bearing bonds from the Bank of Greece with avalaible capital at meeting held yesterday, as had been planned.

IPTO’s available capital is estimated to exceed 100 million euros. The exact figure at present has not been disclosed. A figure of 118.3 million euros had been posted most recently, in figures offered for the operator’s financial standing at the end of 2014.

IPTO’s available funds are directly linked to its wider investment plan. At present, development of significant projects, such as an interconnection project for the Cyclades, as well as network expansion and maintenance work, are all in progress.

How IPTO goes about utilizing its available capital may also influence such matters at PPC, the parent company, which is currently examining ways to fund the development of a new power station in Ptolemaida, northern Greece.