Market officials critical of PPC initiaves ‘affecting the market’

Leading market authorities have expressed their disapproval of a series of main power utility PPC initiatives such as last summer’s move offering a 15 percent electricty bill discount to punctual customers, while also questioning the utility’s plan to establish new retail subsidies and sell stakes in these to rival suppliers.

One official admitted being perplexed by PPC’s discount offer, given Greece’s bailout requirement for the utility’s market share contraction, noting it has only worsened the corporation’s financial standing and restricted the ability of independent suppliers to attract new customers.

The same official contended that the resulting market conditons threaten the utility’s sustainability while also making matters tighter for rival suppliers.

PPC’s plan for the establishment of new retail subsidiaries to be placed for sale as partnerships cannot be embraced unless the offer’s terms are first examined, the official stressed. “I really don’t know how we will act,” the official admitted.

PPC intends to launch this effort, seen as a market share contraction maneuver coming as an addition to other tools, such as the NOME auctions, within the current month or in July.

Critical of PPC’s intention to include samples of all customer categories in these new categories, even high-risk customers behind on electricity bill payments at the utility, the official stressed that independent electricity suppliers are determined to wait for the right market conditions and terms in their effort to gain market ground and would not be lured by any questionable and precarious ventures offered by the utility.