PPC, IPTO seen compromising over €109m owed by power utility

The power utility PPC and power grid operator IPTO are expected to reach a compromise deal in a dispute over a sum owed by PPC to the operator for interest generated by payment delays and various other outstanding amounts.

A compromise deal would lower the sum owed by PPC to less than a 109 million-euro amount claimed by the operator.

The difference between the two sides stems from PPC’s involvement in the wholesale electricity market.

The issue resurfaced yesterday amid the wider racket prompted by reports of PPC’s deteriorating finances. The two sides could reach an out-of-court settlement, it is believed.

The payment to IPTO of an amount below 109 million euros would offer some relief to the power utility, currently incurring losses.

The pursuit of an out-of-court settlement is a desirable prospect, PPC noted in an announcement released yesterday.