PPC customers not meeting payback terms, 15% discount policy at risk

A considerable portion of main power utility PPC customers who have resorted to payback programs for electricity bill arrears, serviced through monthly installments, are failing to meet the terms of their arrangements, according to a power utility annual report.

This could impact the future of a 15 percent discount offered by PPC to its punctual customers. The power utility’s collection record concerning unpaid receivables and the discount’s future availability are correlated, Manolis Panagiotakis, PPC’s chief executive, noted on the sidelines of a recent shareholders’ meeting.

The power utility boss also admitted fearing that a disruption of PPC’s current discount policy could lead to a rise in the number of consumers not able to cover electricity bills.

Updated data concerning PPC’s unpaid receivables should provide further clarity on the dilemma faced by the power utility.