The European Commission appears to be considering a second-round binding bids deadline extension for the main power utility PPC’s bailout-required sale of lignite units following a request made by China’s CHN Energy, one of the sale’s contenders.
According to Greek energy ministry officials, Brussels could extend the deadline by a few weeks, less than an additional one to two months sought by CHN. The current deadline expires on October 17.
CHN, which has joined forces with the Copelouzos group for the PPC sale, has so far submitted 224 queries regarding PPC’s sale of lignite units.
Both the energy ministry and PPC are concerned increased CO2 emission rights costs, currently up to levels of around 22 euros per ton, could negatively impact the price levels prospective investors would be willing to pay for the power utility’s lignite units.
Also, the European Commission does not appear likely to make PPC’s lignite units eligible for CAT remumeration rewarding grid input. However, an unspecified partial reward system is believed to be in the making.