Public sector to prepay PPC bills for discount, State to ‘keep IPTO’s 51%’

Public sector enterprises will prepay their electricity bills to the main power utility PPC for a period covering one year of consumption in order to qualify for a 6 percent discount offered by the utility for advance settlement, energy ministry sources have informed.

The advance payments to be provided to PPC will be determined by the previous year’s electricity amounts consumed.

This initiative promises to offer mutual benefits as PPC’s cash flow will improve and the Greek State will save on energy cost expenses.

The same sources noted that measures are being taken to ensure that the Greek State ends up with a majority 51 stake of PPC’s subsidiary IPTO, the power grid operator.