Besides issues that drew wider attention over the past few days in the negotiations between local officials and the country’s creditor representatives for the first review of Greece’s third bailout package, such as the IPTO (power grid operator) and NOME auction plans, other crucial fronts were also tackled. According to energypress sources, agreements were reached on CATs and high-voltage tariffs.
The lenders, sources informed, demanded that the main power utility PPC reach agreements with its high-voltage customers for the establishment of cost-based prices that take into account respective consumer profile characteristics influencing production costs. It appears that this demand has been accepted.
Establishing a transitional CAT system, as it had been recently approved by the European Union, was also set as a prerequisite for the review’s completion. It was also agreed that a fixed CAT system agreed to between the lenders and the Greek government must be forwarded to the European Commission by June.
The agreement between lenders and Greek officials also includes obligations to legislate a new renewable energy source (RES) support framework that is sustainable and adheres to EU directives; revise the RES-supporting ETMEAR surcharge included on electricity bills with the objective of wiping out the RES special account deficit within 12 months; double the natural gas quantities made available at DEPA (Public Gas Corporation) auctions; and complete energy-sector tax revisions based on terms agreed to with the lender insttutions.