PPC boss backs 15% discount, supplier surcharge decisions

The main power utility PPC’s chief executive Manolis Panagiotakis  yesterday condemned critics of his decisions to offer punctual customers a 15 percent discount on electricity bills and not relay a supplier surcharge to authorities.

The utility head, speaking at a company event for staff members to usher in the new year, noted that the wider criticism of PPC’s discount offer, a move that has offered relief to thousands of households, was ludicrous, while adding that PPC’s refusal to pass on a supplier surcharge has helped the utility avoid electricity tariff increases.

Panagiotakis also noted that PPC should be given more time for its bailout-required market share contraction targets.

The chief official promised staff members that pay cuts would be avoided, adding that the utility needs to acquire operational independence regarding hirings and remuneration packages offered.

Commenting on the bailout-required sale of lignite units representing 40 percent of PPC’s lignite capacity, Panagiotakis said the company must work at transforming this demand from a disadvantage to an opportunity. He stressed the need for the achievement of solid sale prices of lignite units as relief for the power utility’s coffers.

Panagiotakis also admitted that not all was being done to help resolve PPC’s unpaid receivables problem, suggesting the collection effort would soon intensify to limit debt owed to the company.