Power utility PPC officials are busy looking for a formula by the end of this working week that could avoid higher overall costs for consumers despite necessary tariff hikes, needed to boost the struggling utility’s revenues.

Various alternatives are being examined ahead of a board meeting scheduled for this Friday, during which PPC’s new electricity pricing policy proposal is expected to be approved.

PPC is looking to fully offset its upcoming tariff hikes through an equivalent reduction of surcharges.

However, the emergence of a number of detrimental factors has made the effort more challenging. For example, the cost of PPC’s rescue plan has risen, the utility’s new chief executive Giorgos Stassis announced just days ago.

PPC is making an effort to maintain a punctuality discount offered to customers paying their electricity bills on time. The utility’s new administration does not want to start its tenure with a measure that would effectively punish reliable customers.

Energy ministry officials contend state-controlled PPC will keep offering a punctuality discount, adding that its size will be determined by the utility.

It could be cut to 5 percent from 10 percent at present, energypress sources informed. The discount was introduced about three years ago at 15 percent before being reduced to 10 percent last spring.

Last week, it was reported that PPC would abolish all or most of its 10 percent discount.