Just three industries have signed new power deals with PPC

Despite a May 31 deadline included in the bailout agreement for the completion of negotiations between main power utility PPC and energy-intensive industrial enterprises for electricity supply contracts, progress has been extremely subdued.

According to energypress sources, just three major-scale industrial enterprises have signed new power supply deals with PPC, these being the copper, aluminum and cable producer Viohalko, as well as ELPE (Hellenic Petroleum) and Motor Oil Hellas.

On the contrary, other major industrial players, including the cement producers Titan and AGET, have yet to reach new electricity supply agreements with PPC.

The issue has re-emerged following yesterday’s announcement by the utility of an electricity discount offer for households and businesses with punctual payment records. PPC noted that an improvement in payable receivables has bolstered the utility’s cash flow and allowed it to make the offer.

It remains to be seen how PPC’s negotiations with industrial customers develop. Industrial enterprises are pushing for full implementation of the bailout’s terms on industrial electricity supply, which call for individualized agreements, based on variable production costs.