Power utility PPC’s new chief executive Giorgos Stassis wants fair and equal market terms for the utility when it participates in competitive procedures.

PPC cannot go on participating in RES auctions with rivals knowing the utility’s bid prices beforehand, as is required by law, the chief executive protested yesterday.

In addition, current Greek law obligates the state-controlled utility to stage open competitions, with related data exposed for all to see, when, for example, it needs to acquire equipment such as PV panels for solar energy parks. As a result, competitors end up knowing where PPC stands in terms of its supply costs.

Also, when the power utility participates in RES auctions stage by RAE, the Regulatory Authority for Energy, Greek and foreign rivals, knowing PPC’s cost level, submit lower offers and secure progress for their investment plans at the expense of the utility’s.

Stassis is believed to have already received government assurances promising favorable revisions on the matter for PPC.

The new chief executive’s predecessor, Manolis Panagiotakis, had also raised the matter without getting a response from Greece’s previous Syriza government.