Ptolemaida V sustainability jeopardized by call for elections

The energy ministry’s legislation plan concerning CAT remuneration for the power utility PPC’s Ptolemaida V and an ensuing 10-year agreement that would ensure CATs and sustainability for the prospective unit are now up in the air following last night’s announcement of national elections, expected June 30, by Prime Minister Alexis Tsipras.

The upcoming national elections, announced by the PM following his party Syriza’s disappointing performance in European and municipal elections, validate the concerns of pundits who had feared the CAT plan for PPC and its Ptolemaida V unit could be destabilized by Greece’s political developments.

Greek officials have been under pressure to meet an approaching deadline for EU CATs concerning PPC’s Ptolemaida V facility, now under construction.

Ptolemaida V could still qualify for CATs if Greece manages to adopt a capacity sufficiency system ahead of the CAT mechanism’s launch and an agreement is signed by the end of the year.