PPC includes medium-voltage industry in 15% discount offer

A decision by main power utility PPC to include medium-voltage industries in its 15 percent discount offered to household and business customers with punctual electricity payment records has delighted certain industrialists of this category, while others remain troubled, noting that the move by the utility does not satisfy an obligation set by RAE, the Regulatory Authority for Energy, for it to offer indivualized tariff agreements to medium-voltage industries, based on their respective profiles.

Despite the inclusion of medium-voltage industries in PPC’s discount offer, some industrialists seem determined to intensify the legal pressure applied on the utility for indivualized tariff agreements.

The 15 percent discount offered to medium-voltage industries with punctual payment records, including those settling outstanding amounts through monthly installments, follows a 12 percent discount offered to this industrial category last September.

Responding to the latest development, one satisifed industrialist who, in the past, had led a revolt by smaller industries against the utility, yesterday expressed her gratitude to PPC’s chief executive Manolis Panagiotakis at a SEV (Hellenic Association of Industrialists) meeting.

“Plenty of problems may have occured in the past, but, the truth is, PPC has stood by us during difficult times and offered credit terms when nobody else was doing so,” the industrialist remarked. “We won’t forget. We want to support you and will do so. We want a strong PPC. We will remain with you and will remain punctual on all that has been agreed to.”

PPC is struggling with cash flow problems caused by an enormous and potentially devastating unpaid receivables figure now estimated at well over 2.3 billion euros. The traditionally dominant utility also faces the prospect of needing to reduce its market shares, a bailout requirement.