The head officials of main power utility PPC and DEDDIE/HEDNO, the Hellenic Electricity Distribution Network Operator, have partially presented initiatives taken by the two firms for a major project entailing the withdrawal of the country’s 7.5 million conventional low-voltage power meters and replacement with digital meters.
However, this presentation, made at a recent PPC board meeting, was not completed as PPC board members deemed it should take place on a latter date, sources informed. Instead, the session focused on the presentation and endorsement of PPC’s financial results for 2018.
The plan for the project, budgeted at 1.2 billion euros, involves the establishment of a new DEDDIE/HEDNO subsidiary firm to take on the initiative, sources added.
The PPC and DEDDIE/HEDNO administrations anticipate major cost savings as well as an increase in the asset value concerning facilities and distribution networks once the new smart meters are installed. The new system is also expected to help clamp down on electricity theft.
Electricity market competition will also be intensified as the new smart meters will enable suppliers to charge consumers based on real-time conditions reflecting production and supply costs.
The country’s existing power meters are a PPC asset while the distribution network belongs to DEDDIE/HEDNO.
A previous effort to replace the country’s analogue-technology power meters was bogged down by various complications.