Sweeping legislation for energy and environment sector reforms, including a planned termination of RES-supporting electricity supplier and lignite surcharges, is being prepared for submission to parliament during the latter half of November.

The electricity supplier and lignite surcharges are planned to be abolished as of January 1. The development promises financial relief for the country’s electricity suppliers, including the main power utility PPC, expected to save between 200 and 280 million euro for a vastly improved cash flow.

The wider reforms are being attached to a core bill concerning the establishment of the Hellenic Authority for Geological and Mineral Exploration, to replace IGME, the Institute of Geology and Mineral Exploration.

The multifaceted bill will also include a section on a split plan concerning gas utility DEPA, whose ratification will enable privatization procedures to be launched by TAIPED, the state privatization fund.

At this stage, an energy ministry plan that would remove DEPA’s distribution network from the company to be sold appears likeliest. This network would remain with the EPA Attiki supply company, a venture covering the wider Athens area. DEPA holds a 51 percent stake in EPA Attiki and has reached an agreement to acquire the other 49 percent from Shell. A majority share of DEPA, possibly 51 percent, is expected to be offered to investors.