Elpedison to prepare ground for ‘Little PPC’ prospect

Independent electricity supplier Elpedison is making plans in preparation for the prospect of main power utility PPC’s part-privatization, a scenario that could be retabled by the country’s creditors if the utility, proving resilient, fails to meet market share contraction requirements.

According to energypress sources, the prospect of carving out and selling a share of PPC, locally dubbed “Little PPC”, was discussed on Friday in Milan at the annual shareholders’ meeting held by Edison to shape the corporation’s strategy for 2017.

Officials representing Greece’s ELPE, an Edison partner in the Elpedison venture, told the meeting that if the just-introduced NOME auctions fail to produce intended PPC market share contraction results, then the utility’s “Little PPC” part-privatization is bound to be brought back to the fore by the country’s creditors. Italy’s Edison is controlled by France’s EDF.