Greece’s asset development plan (ADP), part of the country’s latest bailout agreement, includes a plan for the sale of a 17 percent share of main power utility PPC, possibly within 2016, despite various government claims of resistance to privatizations in the energy sector.
The sale of a 35 percent share of ELPE, Hellenic Petroleum, is also included in the ADP. Any alternative plans will need to be presented by November.
As for DEPA, the Public Gas Corporation, fundamental issues need to be examined and alternatives assessed, according to the ADP, before a new sale process is reinitiated.
On gas grid operator DESFA’s sale, the prospect of Azeri energy company Socar’s acquisition of a reduced 49 percent equity share, by surrendering 17 percent, either to the Greek state or another company, is specifically mentioned for the time in the ADP. Officials are now waiting for a response from Socar as to which option it prefers. Socar had originally agreed to acquire a 66 percent stake in DESFA before the European Commission intervened over various concerns, including EU energy security.