PPC request to limit bad debts from company closures rejected

PPC, the main power utility, has asked RAE, the Regulatory Authority for Energy, to revise existing regulations for professional consumers as a means of limiting bad debts prompted by company closures, the corporation’s recently appointed CEO, Manolis Panagiotakis, has hinted.

PPC’s request entails providing the power utility authority to transfer amounts owed by companies that have gone out of business to other existing electricity supply connections made under the same tax file number and for ventures operating in the same field.

If, for example, a certain professional operates two bakeries, and one were to go out of business while owing 40,000 euros to PPC, the power utility would then have the right to transfer this amount to the entrepreneur’s other existing bakery.

To date, PPC’s request for the revision has not been accepted by RAE, which contends it clashes with existing regulations, including consumer rights.

However, PPC does not consider the request unreasonable as it does not demand transferring outstanding electricity bill amounts to household accounts, or other enterprises operated by individuals in different business sectors.