Technical details of a clause triggering electricity tariff hikes when CO2 emission right costs increase to certain levels will not enable price adjustments in the opposite direction, for tariff reductions should emission right costs deescalate, power utility PPC’s chief executive Giorgos Stassis is expected to explain to the company board at a meeting tomorrow.
“This clause will not apply for any other situation [other than CO2 emission right cost increases],” the utility’s boss’s address is expected to note.
The resulting extra charges will not be subject to any discount offered by PPC, not even the remaining 5 percent of its punctuality discount, being lowered from 10 percent.
PPC, under financial pressure, is adopting a series of measures designed to boost the company’s revenues.
EVIKEN, the Association of Industrial Energy Consumers, has criticized the power utility for lack of transparency in its calculations of the CO2 emission right costs clause for the medium and high-voltage categories.
Adding to the negative reaction, it is believed that RAE, the Regulatory Authority for Energy, has forwarded a related letter to PPC contending its CO2 emission right costs formula is not fully substantiated.