Tuesday October 21, 2014 Search
Weather | Athens
24o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Strict timetable set for energy market reforms

By Chryssa Liaggou

The revised agreement between Athens and its international creditors provides for strict timetables regarding the reforms needed to streamline the local energy market and strengthen competition therein.

It places particular emphasis on the issue of liquidity, calling on the Greek authorities to help make the system financially sustainable by sticking to the following commitments:

* To bring the deficit of companies that exploit renewable energy sources (RES) industries down to zero by the end of this year, from 1.3 billion euros today, and adjust the rates every six months to ensure that the system does revert to a deficit in the next 14 months.

* To ensure the sustainability of the RES industry beyond 2014 via a regulation that should have been submitted in Parliament by March 31 this was a part of the multi-bill passed last Sunday.

* To make sure the public sector does not run up any more debts to the Public Power Corporation and that the directive concerning the repayment of state debts within 30 days is adhered to. Expired state debts to PPC amount to some 165 million euros and the Finance Ministry is already preparing for the repayment of 50 percent of that within this month.

Authorities will have to boost competition in the natural gas market with the following measures:

* They must legislate by June on splitting the activities of local gas companies (EPA) between trading and distribution, so that the three EPA in Athens Thessaloniki and Thessaly will be operating in their new forms as of January 2015. This way, the EPA monopoly in the retail natural gas market resulting from long-term contracts with the state will be abolished.

* The Competition Commission will revise an existing 2012 decision by June, forcing the Public Gas Corporation (DEPA) to take measures to strengthen competition based on the above changes.

* The regulation on third-party access to the liquefied natural gas (LNG) storage station on Revythousa will be revised, along with further development of the legislation on gas storage.

* A plan on the expansion of natural gas usage by households for heating purposes will include the option of utilizing structural funds. This could be accompanied by a fiscally neutral reduction in the taxes on natural gas. According to the Energy Ministry, this is the first time the government has managed to have this included in the agreement, which is considered a success for the Greek side.

ekathimerini.com , Thursday April 3, 2014 (23:46)  
Certainty on primary surplus target
Feverish talks on payment plan proposals
TUI promises even more tourists
Greek yields drop to 7.83 pct as investors await ECB move
Archaeologists find missing head of Amphipolis sphinx
Archaeologists digging at a tomb dating to the era of Alexander the Great in ancient Amphipolis in northern Greece have found the missing head of one of the two sphinxes guarding the entranc...
Coalition leaders prepare for troika amid sour mood
A dispute between New Democracy and PASOK over civil servants salaries continued Tuesday, underlining the big task facing Prime Minister Antonis Samaras and Deputy Prime Minister Evangelos ...
Inside News
BASKETBALL
PAOK fans stop coach Markopouloss move to Olympiakos
Olympiakos is once again in the lookout for a new coach after the refusal of PAOK to release Soulis Markopoulos, while Panathinaikos defeated Kolossos on Rhodes on Monday to become the only ...
BASKETBALL
Reds lose to Nea Kifissia, search for new coach
Nea Kifissia recorded the biggest win of its short history in the top flight defeating Olympiakos 68-67 on Sunday, in a Basket League weekend marred by the abandonment of the Thessaloniki de...
Inside Sports
COMMENTARY
The ECB collateral for Greece must be lowered to 5 pct
According to recent reports, the European Central Bank plans to reduce the 57 percent penalty, that is the discount applied to almost all Greek government bonds (GGBs) held as collateral b...
INTERVIEW
The past, present and future of the Greek debt crisis
For a decade, until mid-2012, Josef Ackermann was the CEO at Deutsche Bank. It was a position that earned him the nickname shadow chancellor of Germany and allowed him to play a decisive r...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Certainty on primary surplus target
2. Feverish talks on payment plan proposals
3. TUI promises even more tourists
4. Archaeologists find missing head of Amphipolis sphinx
5. Coalition leaders prepare for troika amid sour mood
6. Parties at odds over university ID checks
more news
Today
This Week
1. The past, present and future of the Greek debt crisis
2. Gang importing heroin into Greece busted
3. Self-opposing coalition
4. Greece said to seek tailor-made plan for bailout exit
5. Gutsy rectors
6. Applications for heating oil subsidy set to start
Today
This Week
1. Possible third figure in Amphipolis mosaic may be uncovered shortly
2. Greece to contribute 1 mln towards Gaza reconstruction
3. Istanbul skyscraper casts shadow over Greece's banking ambitions
4. Greece nearing bailout exit, says gov't spokesperson after IMF talks
5. Coalition shooting itself in the foot
6. GPO poll gives SYRIZA clear lead over New Democracy
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.