A series of volume-based electricity tariff discounts concerning energy-intensive industrial consumers were approved at a PPC (main power utility) extraordinary shareholders meeting held today.

According to the plan, presented at the shareholders meeting by Mihalis Veriopoulos, secretary general at the Environment and Energy ministry, the biggest discount, measuring 15 percent, will be offered to industrial consumers using over 2,000 Gwh per year.

Industrial enterprises consuming between 1,000 and 2,000 Gwh per year will be offered a discount of 13 percent. Annual industrial consumption between 700 and 1,000 Gwh will be offered a 12 percent discount; 400 to 700 Gwh 10 percent; 200 to 400 Gwh 8 percent; 50 to 200 Gwh 6 percent; and 10 to 50 Gwh 4 percent; while industrial consumption between 0 and 10 Gwh will not be offered any discount.

According to PPC’s chief executive Manolis Panagiotakis these rates will create a total of 56 sub-categories from seven initially planned. PPC is not yet in a position to determine whether these discount rates will offer tariffs below the marginal cost.

According to PPC officials, the new discount rates follow along the lines of industrial pricing policies implemented by suppliers in foreign markets and, as a result, do not offer any leeway for EU executive bodies to raise any competition claims.

Also at today’s meeting, PPC shareholders approved the continuation of electricity supply to Aluminium of Greece until a competition committee verdict is issued and ahead of negotiations for this specific industrial enterprise’s tariffs.