BUSINESS

Brussels takes over PPC plant sale procedure

CHRYSSA LIAGGOU

TAGS: Energy, Privatizations

The government is ceding control of the sale of Public Power Corporation’s (PPC) lignite-powered plants, according to pledges made by Athens to the European Commission, Kathimerini has learned.

The entire process will be conducted by a so-called “monitoring trustee,” who will have the role of on-the-spot inspector from the Commission’s Directorate General for Competition (DGComp).

The trustee will be put forward by the Greek state, which will also be responsible for paying him, but must be approved by the Commission, which can, if necessary, also amend his mandate. The trustee will primarily answer to Brussels, briefing the Commission every month on a series of issues, such as whether commitments are being met. He will also play the role of co-administrator for the units being sold.

The Greek authorities and PPC will be updated by the trustee via non-confidential documents, which means that they will not necessarily receive the same information as that provided to Brussels, so their role will be restricted to processing and financing. Crucially, the Greek side has also conceded its right to determine which plants it will sell, a task that is ultimately passed on to the Commission.

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