IPTO summoned over public service compensation disarray

The power grid operator IPTO is expected to provide explanations at a RAE (Regulatory Authority for Energy) hearing today over accusations alleging the operator has inappropriately kept its books for Public Service Compensation (YKO) revenue and expense entries.

Confusion prevails over the YKO amounts IPTO’s parent company main power utility PPC is entitled to receive.

YKO sums, which represent a considerable percentage of electricity bills, are primarily used to finance electricity generation on the non-interconnected islands. Other services stemming from the YKO sums include subsidizing the electricity bills of multi-member families.

PPC is demanding 600 million euros in delayed YKO payments for a four-year period covering 2012 to 2015. RAE is refusing to validate PPC’s claim for such a recoverable amount without a prior examination of IPTO’s books.

On a related front, HEDNO, the Hellenic Electricity Distribution Network Operator, whose tasks include maintaining YKO-related data determining surcharges to be paid by consumers and, by extension, the respective amounts electricity suppliers should recieve, has been given until June to present its figures in detail.

These figures include YKO amounts as well as RES-supporting ETMEAR surcharge amounts owed to all suppliers for 2012 to 2015.

PPC’s demand for an YKO sum of 600 million euros is considered exorbitant given the subdued overall cash flow in the electricity sector.