RAE, the Regulatory Authority for Energy, is not prepared to approve a 600 million-euro Public Service Compensation (YKO) payment sought by the main power utility PPC for a four-year period covering 2012 to 2015 unless this amount and its method of calculation are verified by IPTO, the power grid operator.

However, IPTO has failed to maintain a related account detailing revenues and expenses and, as a result, has been summoned by RAE for a hearing later this month in an effort to clear up the matter.

In addition, HEDNO, the Hellenic Electricity Distribution Network Operator, has been given until June to update and present its related data indicating the respective YKO and RES-supporting ETMEAR surcharge amounts electricity suppliers are entitled to receive for the period covering 2012 to 2015.

In recent years, HEDNO, whose tasks include management of public service compensation charges concerning the Greek islands, has not been paying electricity suppliers the YKO payments they are entitled to.

Public service compensation surcharges are included on electricity bills to primarily fund electricity generation on the Greek islands.