PPC’s bigger debtors ignoring improved payback terms

Some 140,000 electricity consumers owing power utility PPC a total amount of 230 million euros agreed to payback arrangements through monthly installments between October 1, when improved terms were introduced by the utility, and mid-February.

PPC’s administration regards this as a satisfactory reaction but bigger debtors remain a concern. The power utility has yet to elicit a response from consumers owing considerable amounts.

Latest data has shown that just 5 percent of consumers owing amounts greater than 10,000 euros signed up for payback arrangements between October 1 and mid-February.

The majority of consumers in this category are high-income earners refusing to cooperate for debt settlement, according to PPC, preparing a new crackdown.

On the contrary, consumers owing PPC mid-level debt amounts of between 1,000 and 3,000 euros appear far more willing to deal with their electricity bill debts, 39 percent agreeing to payback terms since October 1.

The response from customers owing between 500 and 1,000 euros was similar. A total of 39 percent belonging to this category registered for payback agreements during the same period.

The revised terms introduced by PPC on October 1 require a lower deposit payment for payback-plan eligibility and offer up to 24 monthly installments.