PPC sale’s SPA uploaded for consultation virtually unchanged

The main power utility PPC’s updated sales and purchase agreement (SPA) concerning the corporation’s follow-up sale effort offering lignite units has been uploaded for consultation to the utility’s video data room without essential changes compared to its previous version, used for the initial sale effort, which failed to produce results.

The new SPA includes a projection for a staff reduction at the Megalopoli power facility, included in the package, to 754 employees by April, 2019, a 30 percent drop compared to last July’s figure of 1,076.

Variable costs for the Megalopoli and Meliti units included in the sale package range from 60 to 63 euros per MW/h, according to the updated SPA figures.

The follow-up sale effort’s procedure will include two rounds of consultation before a finalized SPA is established. Officials are aiming for the SPA to be finalized by the end of April, before binding bids are submitted in early May.