PPC discount offer for advance payments set for expansion

Further expanding its discount offers program despite bailout-required market share contraction obligations, the main power utility PPC, needing to improve its cash flow, is set to introduce a 6 percent discount on electricity bills for household consumers agreeing to make advance payments covering an entire year’s worth of consumption.

This option, originally offered to the public sector, is now also expected to be made available to households and smaller enterprises within the next few weeks.

PPC’s poor cash flow received a needed cash injection worth around 50 to 60 million euros after the discount offer was made to the public sector. This amount is believed to represent about a year’s worth of electricity consumption required by the public sector.

Essentially, this new PPC discount offer represents a loan request made by the power utility to its customers at an interest rate of 6 percent.

PPC officials expect that the offer will be embraced by large chains, shops, businesses and industrial units whose electricity costs reach tens of thousands of euros, as well as households using considerable electricity amounts.

Besides the public sector, the discount offer was also successfully applied following an agreement between the utility and the industrial enterprise Aluminium of Greece, ensuring PPC a cash injection worth 100 million euros.

Since last July, PPC has offered a 15 percent discount as a reward for punctual payment of electricity bills. The utility’s latest offer promises clients a total discount of 21 percent.