BUSINESS

Unionists plan to block sale of grid operator

CHRYSSA LIAGGOU

TAGS: Privatizations, Energy

The union of Public Power Corporation employees (GENOP) will seek an injunction to block the tender for the concession of a 24 percent stake in the Independent Power Transmission Operator (ADMIE) to a strategic investor.

GENOP chief Giorgos Adamidis revealed the union’s plans at a press conference on Wednesday, calling on PPC chairman and chief executive Manolis Panagiotakis “not to associate his name with the dissolution of the biggest industrial corporation in the country.”

The press conference took place a day ahead of Thursday’s PPC general meeting that is set to decide on the concession of ADMIE, which GENOP is emphatically rejecting. Adamidis said the plan is “disastrous” as it will mean that PPC no longer owns ADMIE.

The unionist also said the model being promoted for the reduction of the PPC market share, as agreed by the government and the country’s creditors, will not only doom PPC but also the country’s economy, because, as he said, it will lead the corporation to bankruptcy. He claimed he is in favor of the PPC lignite plant going up for sale on the grounds that there will be no buyers.

“A prosecutor should look into it, and it is strange that one has not done so already,” said Adamidis about the model that will see PPC’s retail market share reduced to below 50 percent.

He went on to predict that PPC will soon face problems in servicing its debts and did not rule out the possibility of problems in the payment of staff salaries, given the high level of unpaid electricity bills that he said amount to 3 billion euros.

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