Power utility PPC appears to have reached an advanced stage in talks with metal processing company Viohalco, one of Greece’s biggest electricity consumers, for a green-based power purchase agreement (PPA), which, if sealed, would be the power company’s first, sources have informed.

Also, on a wider scale, the Greek government, in response to considerable pressure from industrial associations, is believed to be preparing an energy-cost support package for industrial firms.

This support is expected to be offered in the form of subsidized electricity over a one-year period. A related legislative revision is being prepared. Budget money will be needed to fund this support.

Returning to PPC and Viohalco, the two sides are discussing a long-term supply agreement at a fixed price and have agreed on exclusive electricity supply from specific solar farms for the industrial player, the sources added.

Such an agreement promises to cover the industrial player’s energy needs at a subdued cost.

Manufacturers have been unsettled by expiring and expired electricity supply agreements with PPC, which, for decades, up until the energy crisis, had been able to offer low-cost energy supply deals.

PPC, like all energy suppliers, has been forced to abandon such deals, now unprofitable, and instead turn to PPAs.