STASY, the urban rail transport company managing the Greek capital’s tram, suburban rail and metro services, has been advised, by the country’s new super privatization fund, to renegotiate for lower-price electricity from suppliers. Electricity represents the transportation firm’s second largest operating cost.
The privatiation fund sees a reduction in electricity costs as essential for the sustainability of STASY, its parent company OASA (Athens Urban Tranpsort Organization), as well as fellow subsidiary OSY (bus service company).
At STASY, the company payroll, its main expense, amounted to 78.5 million euros in 2016, representing 60.8 percent of the firm’s total operating expenses. The firm’s electricity cost totalled 20.5 million euros in 2016, representing 15.9 percent of total operating costs.
The electricity-cost reduction advice for STASY was included in a 48-page strategic plan drafted recently by the privatization fund. The plan does not specify whether reduced electricity tariffs should be sought from the main power utility PPC or independent suppliers.
Besides the public transportation sector, energy costs represent the main cost for most utilities now controlled by the privatization fund. Similar cost-reduction advice has been extended by the fund to all state-controlled enterprises under its control.