Main power utility PPC staff employed at the corporation’s Meliti and Megalopoli power stations, both loss-incurring, appear to be embracing a voluntary exit plan offered by the company as part of an effort to entice investors to its bailout-required disinvestment of lignite units. Outgoing workers presumably fear the job insecurity that lies ahead at the utility, now undergoing transformation.

A total of 360 workers at the Meliti and Megalopoli lignite-fired power stations have so far registered for the voluntary exit plan, offering severance pay of up to 25,000 euros, including bonuses, energypress sources informed. Officials believe the exodus tally could rise further.

Investors have indicated they want the workforce at Megalopoli and Meliti, totaling 1,248, to be cut down to 600. However, even such a reduction cannot guarantee sufficient investor interest as possible buyers want more incentives that would  compensate for these loss-incurring units.

At present, 1,017 workers are employed at the Megalopoli unit and 231 at Meliti. Investors want 480 workers to remain at Megalopoli and 120 at Meliti.

According to energy ministry officials, the European Commission has officially granted Greece a deadline extension for the voluntary exit plan that resets the date for February 8 from January 31.

If all goes according to plan, binding offers by prospective buyers will be expected on January 23, while improved offers, if needed, and a PPC announcement of the winning bidder will be due by January 31. Greece, according to the current schedule, needs to officially update the European Commission of the disinvestment’s conclusion by February 8.