PPC board to discuss extending Qualco debt collection contract

The main power utility PPC’s board is expected to discuss extending its contract with debt collection services firm Qualco, hired to help to reduce the utility’s level of unpaid receivables, currently estimated at 2.4 billion euros.

Qualco’s initial effort, launched as a pilot program for approximately 100,000 to 120,000 PPC customers, is expected to be broadened to reach about two million.

PPC has expressed mild satisfaction with the debt collection services firm’s results so far.

Reducing the unpaid receivables level represents PPC’s biggest challenge this year as the effort’s outcome is not only crucial for the utility’s sustainability but also its ability to keep offering a generous electricity bill discount to punctual customers, chief executive Manolis Panagiotakis has pointed out.

Qualco is expected to exceed its unpaid receivables collection target of 50 million euros this year and rake in 150 million euros, projections have indicated.