BUSINESS

Gov’t eyes creation and sale of small power firms from PPC

CHRYSSA LIAGGOU

TAGS: Energy, Privatizations

The scenario of privatized spin-offs of Public Power Corporation, which have been dubbed "Small PPCs," is back on the table as the first power auctions for the reduction of the PPC market share proved ineffective, while Brussels is asking Greece to comply with the decision of the European Court of Justice for breaking PPC’s monopoly in lignite use for power production.

The government is against selling off a "Small PPC" to the private sector that would rival PPC, but it is willing to discuss splitting a number of small companies from PPC that would be privatized so as to prevent the possible bankruptcy of the entire power market.

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