Power utility PPC is ready to pounce on the first opportunity it will get to launch its securitization plan for unpaid receivables owed by customers.
Extraordinary market conditions resulting from the coronavirus pandemic’s wider impact have delayed the plan, whose various technical details and negotiations with investors have been completed.
The terms of the securitization effort would be too costly for PPC if the utility were to launch the plan under the present conditions.
PPC’s electricity bill collections have dropped by a level estimated between 25 and 30 percent over the past 20 days, latest company data has indicated.
However, the extent of the coronavirus-related impact on this reduction in electricity bill payments is unclear as Hellenic Post (ELTA) has experienced delays in posting hundreds of thousands of bills to customers during this same period.
A clearer picture on the pandemic’s impact on PPC’s unpaid receivables is expected towards the end of this month.
RAE, the Regulatory Authority for Energy, and the energy ministry have both requested updated collection figures from all the country’s power supply companies.