‘Interest on surcharge transfer delays to operators must stop’

Power utility PPC’s outgoing chief executive Manolis Panagiotakis has requested a legislative revision that would stop interest charges from being added to overdue regulatory surcharge payments owed by the utility to the IPTO and DAPEEP operators.

This measure would apply to sums concerning RES-supporting ETMEAR surcharges and other regulatory charges imposed on electricity bills that have yet to be paid by consumers.

During a recent meeting with the new energy minister Costis Hatzidakis, the outgoing PPC boss – who submitted his resignation from the state-controlled power utility shortly after the July 7 election – proposed a series of measures that he believes are required to help normalize the electricity market and also offer financial relief to PPC, under financial pressure.

Speaking to reporters following the meeting, Panagiotakis refused to disclose the entirety of proposals he made to the energy ministry, noting he would elaborate on these when the time is right.

The power utility’s chief described as unjustified the interest charges imposed on PPC for its delayed transfer to operators of surcharge amounts not yet paid by consumers.

Independent electricity suppliers have also asked authorities to intervene on the matter.