PPC units to be sold valued at 1.5m euro, company CEO notes

PPC, the public power corporation, offers the cheapest domestic rates for electricity in the entire Eurozone and fourth cheapest in the European Union, the corporation’s president, Arthuros Zervos, noted while addressing Parliament’s Standing Committee for Production and Energy.

The corporate head also estimated that the value of PPC production units to be included in its part-privatization was approximately 1.5 billon euro. The figure does not incorporate the value of mines and client lists that will be included in the sale.

Parliament’s Standing Committee approved the draft bill for a 30% sale of PPC to create a “Little DEI”, as the corporate part to be privatized is being referred to. The coalition government, comprised of the New Democracy and PASOK parties, overwhelmingly supported the plan, while the main opposition leftist party SYRIZA, Independent Greeks, the neo-Nazi party Golden Dawn, Democratic Left, the Greek Communist Party KKE, Independent Democratic MPs – a parliamentary group established late last year – as well as independent MP Nikitas Kaklamanis, all rejected the privatization plan.