DEPA privatization bill later this month with majority stakes for trade, networks

Gas utility DEPA privatization plan revisions will be forwarded to parliament later this month, instead of within the first few days, as was previously believed.

The DEPA revisions will be included in a draft bill to also feature an order detaching power utility PPC from public sector terms concerning competitive procedures. This combined move has played a role in the slight delay.

The bulk of DEPA’s revised privatization plan is ready but certain legal details still need to be completed. Also, TAIPED, the privatization fund, and Hellenic Petroleum ELPE, holding a 35 percent stake in DEPA, need to be fully informed.

At this stage, it appears that majority stakes will be offered in DEPA’s trading and infrastructure interests, while the Greek State, now holding a 65 percent stake in the gas utility, will retain a majority stake in international projects.

This overall DEPA plan maintains energy ministry intentions unveiled in mid-September for the establishment of three divisions respectively representing trade, networks and international projects. It seems the government will probably sell the Greek State’s entire 65 percent stake concerning trade and networks.