Two options most probable in DEPA restructuring plan

Consultants working on Greek gas utility DEPA’s split plan, entailing a division of the firm’s commercial interests and infrastructure, have arrived at two most probable proposals, energypress sources have informed.

One of the two options being considered would split the utility’s commercial activity from DEPA, as the corporation currently stands, and incorporate it into greater Athens area gas supplier EPA Attiki, a fully operational enterprise with an existing customer base.

According to the other scenario, the company’s commercial activity would remain a part of DEPA while the utility’s networks and international projects would be split and transferred to prospective firm DEPA Infrastructure along with gas distribution venture DEDA, a wholly-owned subsidiary of DEPA, and Athens network operator EDA Attiki.

Financial criteria, taxation issues and personnel concerns will be taken into account before a finalized plan is shaped. It is believed that a limited voluntary retirement scheme is being examined.

Work on a draft bill concerning DEPA’s restructuring plan and the commitments of the resulting firms will commence as soon as the consultants, DEPA’s administration and the energy ministry have agreed on the details. According to the original plan, the draft bill was scheduled for delivery in October.