Energy sector draft bill to be presented at cabinet meeting tomorrow

The key aspects of a new institutional framework to bring about energy market revisions will be presented by energy minister Costis Hatzidakis at a Ministerial Council meeting tomorrow.

Power utility PPC’s detachment from bailout-related restrictions imposed on public sector enterprises; a plan for the partial privatization of distribution network operator DEDDIE/HEDNO, a PPC subsidiary; and details concerning gas utility DEPA’s upcoming privatization represent the new framework’s most significant components.

Details of moves intended to accelerate the RES sector’s penetration in energy production and consumption are also included in the framework.

The energy ministry will also forward its plan to the country’s lenders, including the European Commission. It will also be forwarded for public consultation, sources believe.

Once these stages have been cleared, a draft bill is expected to reach Greek Parliament in the second half of November, the aim being to complete its ratification by the end of that month.