PPC’s improved payback scheme begins April 1

The main power utility PPC has officially announced that its revised payback scheme for consumers with arrears, softened and entitling all parties to 36 installlents without any deposit, will be available from April 1 to the end of July.

“Showing understanding for the needs of consumers, PPC has decided to offer a new and particularly favorable payback scheme for unpaid receivables owed to the corporation,” the company noted in a statement released yesterday.

Prior to the revision, the previous payback plan theoretically allowed for as many as 36 installments, but the number offered averaged less than 20. Very few consumers were offered 36 installments. Also, a ten percent deposit of the total amount owed needed to be paid up front by consumers to qualify.

As of August 1, when the aforementioned offer has expired, consumers with arrears will need to provide a five percent deposit before qualifying for a payback scheme whose number of installments will range from 18 to 36.

PPC is seeking to improve its electricity bill collections record. The utility has put the figure of unpaid overdue electricity bills owed by consumers at 2.2 billion euros.