The main power utility PPC is considering seeking compensation for the undepreciated value of power stations on islands to stop operating as a result of the launch of grid interconnection projects.

This detail has been included in PPC’s Strategic and Business Plan for 2018 to 2022, prepared by consulting firm McKinsey.

One chapter in the consulting firm’s plan, totaling approximately 80 pages, focuses on the repercussions to be experienced by the power utility as a result of interconnection projects concerning Crete, Rhodes, the Dodecanese and the Cyclades.

It has been estimated by McKinsey that PPC will need to seek compensation worth a total of 269 million euros, of which 211 million concerns the withdrawal of diesel-fueled power stations in Crete’s Hania, Linoperamata and Atherinolakos regions.

The compensation amount concerning power station withdrawals on Dodecanese and Cyclades islands has been estimated at 38 million euros, while a further 20 million euros has been linked to the undepreciated value of units to stop operating on Rhodes.