BUSINESS

Barrage of notices to go out for debts over 1,000 euros to PPC

TAGS: Economy, Energy

Thousands of farmers and businessman in the Greek countryside and islands who have debts to Public Power Corporation (PPC) in excess of 1,000 euros will be receiving out-of-court settlement notices within the next few days.

The barrage of notices is being launched by the Athens-based debt collection firm Qualco, which was hired by PPC to retrieve some 2.8 billion euros owed to the state-run electricity provider by private and corporate clients.

The first phase of the company’s collection plan, starting in the Greek countryside, comprises notices and telephone calls to debtors who have not come forward to settle their arrears or who have fallen foul of payment plans agreed with the company.

The scheme will then be launched on a nationwide basis.

If the debtors do not respond to the 15-day warning, they face having their electricity cut off, after which PPC will be able to take judicial action.

Qualco’s goal, according to data leaked from PPC, is to collect at least 50 million euros’ worth of arrears this year, though the company is said to appear confident it will triple that amount.

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