An energy ministry legislative revision facilitating the transfer to power grid operator IPTO of distribution network operator DEDDIE/HEDNO’s assets on Crete, a pending issue needed for the launch of market activity concerning the island’s small-scale interconnection with the Peloponnese, has been submitted to Parliament for ratification, ending months of debate on the matter.

As of August 1, Crete’s entire package of high-voltage electricity grid assets will be transferred from power utility PPC, DEDDIE/HEDNO’s parent company, to IPTO, the new owner of these assets, taking on their operational management.

Until now, DEDDIE/HEDNO has been responsible for the management of Crete’s small-scale interconnection with the Peloponnese.

The price IPTO will need to pay for the acquisition of these Cretan grid assets will be determined by their market value, to be calculated over two stages.

The first will reflect the regulatory value of the assets. The second, to be calculated at a latter date, will concern the evaluation of the assets transferred to IPTO by an independent, specialized appraiser to be accepted by both IPTO and PPC.