PPC’s unpaid receivables at €2.405 bn; huge collection task

The main power utility PPC’s unpaid receivables sum has not fallen and stands at a level of 2.405 billion euros, according to latest figures provided by the utility.

The news is made even more alarming by the fact that this figure does not include debt concerning the public sector, high-voltage consumption, as well as monthly-installment payback programs.

The bulk of PPC’s unpaid receivables sum stems from low-voltage consumption. This figure exceeds 2 billion euros. Without a doubt, the consultant recently commissioned by PPC, through a tender, to offer specialized debt collection services faces an enormous challenge.

PPC’s unpaid receivables linked with the Social Residential Tariff (KOT) program offering underpriviledged households subsidies for lower-cost electricity have reached 365.5 million euros. This figure constitutes 15 percent of the total amount owed by low and mid-voltage customers, based on data provided in September.

An eight-member consortium named Fina City Corporation and headed by Qualco has been commissioned by PPC to offer debt collection services.

Part of the task will entail establishing customer profiles based on criteria such as income and vocational groups. Approach strategies for each consumer category will then be determined. New incentives for debt settlement are also expected to be offered.

Besides Qualco (UK), a debt collection firm that has offered its services to some 70 enterprises in 15 countries since its launch in 1998, the consortium’s other members are IBM Hellas; Deutsche Bank London Branch; Estia Business Group; Deloitte Business Solutions; KPMG; Kapa Research; and the Nikolaos A. Andrikopoulos and Associates law firm.