BUSINESS

PPC is now having second thoughts over DEDDIE sale

CHRYSSA LIAGGOU

TAGS: Energy, Privatizations

Public Power Corporation appears quite reserved about the privatization of the Hellenic Electricity Distribution Network Operator (DEDDIE), at least according to the position expressed during the consultation process.

PPC’s management says the issue is “exceptionally crucial,” noting that the concession of DEDDIE would have a seriously negative effect on the utility’s financial results and cash flow. It adds it reserves the right to decide on purely business criteria whether it will sell the grid operator, when and under what terms, as laid down in the Constitution and legislation.

Despite PPC’s reservations, the part-privatization of DEDDIE forms part of the midterm strategy of the utility presented on Monday by its head, Giorgos Stassis. Energy Minister Kostis Hatzidakis has referred in Parliament to the PPC business plan and particularly to the concession of a 49 stake in DEDDIE.

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