ELTA transfer delays of PPC bill payments between €45-60m

Delayed ELTA (Hellenic Post) transfers of main power utility PPC electricity bill payments made by consumers via ELTA outlets and payment services are estimated to amount to a sum of between 45 million and 60 million euros, not 20 million euros, as was originally believed.

RAE, the Regulatory Authority for Energy, has begun a probe seeking reasons for the delayed transfers following consumer protection group complaints.

Customer complaints began surfacing in March, roughly one and a half months before the issue gained wider attention.

Many PPC customers have consequently missed out on a 15 percent discount offered by the utility as a result of these delays.

ELTA officials have remained silent over the matter. According to some sources, procedures were launched last week for a partial resolvement, including amounts owed by the Greek State to ELTA for various services.

RAE officials are contemplating the prospect of referring the matter to the competition committee as a means of determining whether ELTA has withheld PPC electricity bill payment amounts to support its cash flow, operating costs as well as its own discount policy as an electricity supplier. Data made available so far in the probe does not suggest ELTA has gone this far.