RAE report on PPC public service return for 2011 expected today

RAE, Regulatory Authority for Energy, is expected to report back to the energy ministry today, barring unexpected developments, on the sum the power utility PPC should receive in public service compensation (YKO) returns concerning 2011.

The amount is expected to range between 160 and 200 million euros, sources informed, which is considerably less than levels of 250 to 300 million euros rumored just weeks earlier.

The RAE report for the energy ministry is also expected to inform that a legislative revision will be needed for the payment to be made as current law considers the case closed for 2011 following a previous YKO refund to PPC.

Some sources have indicated that a new legal framework will be needed if RAE is to calculate the precise amount PPC stands to receive for 2011 public service compensation returns.

It remains unclear if PPC can use this anticipated report for an accounting entry of its 2011 public service returns before the end of June, which would improve the power utility’s first-half financial results, currently strained.

The trouble experienced by PPC in its effort to secure an YKO sum for 2011 has prompted the utility to announce it will also pursue a 375 million-euro public service amount concerning the period between 2012 and 2015, through legal action, if needed.