PPC insisting on additional €375m public service amount

Despite not having made any official announcements, the main power utility PPC has not abandoned its effort to collect additional public service compensation (YKO) payments worth approximately 375 million euros for a period following 2011.

On the contrary, the power utility has taken its case to the Council of State, Greece’s Supreme Administrative Court, in an effort to have a RAE (Regulatory Authority for Energy) decision cancelled. This decision by the authority set the amount owed to PPC at 360 million euros. PPC officials believe the total YKO amount should be worth 735 million euros.

Sources said the case could boil into a hotly contested legal dispute.

An initial request by PPC calling for RAE to revise its decision was rejected by the authority before the power utility turned to the Council of State.

A preliminary session held at the Supreme Court earlier this week focused on procedural matters, energypress sources informed. It is believed the court questioned whether it holds jurisdiction to hear this specific case.

PPC disputes a formula used by RAE to determine the older YKO amounts and has also questioned the overall time period applied as well as whether the authority correctly left out 2012 from its calculations.

The state-controlled power utility received the 360 million-euro sum determined by RAE as a lump sum in December through a government social support program. Though this payment offered financial relief to the utility, it is still contesting an additional 375 million euros, which would bring the total amount for public service compensation from 2011 onwards to 735 million euros.