Friday December 19, 2014 Search
Weather | Athens
17o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
PPC rate hike set for next week

 Signs point to the government opting for a total increase of 9 percent in three installments

By Chryssa Liaggou

The government will announce next week the level of the first wave of rate increases for electricity consumption, which will apply retrospectively from January 1, while Public Power Corporation is trying to settle the growing pile of debts that customers owe the company. Sources say the total rate hike this year will come to 9 percent.

The level of the rate increase will be determined based on the intervention by the Regulatory Authority for Energy (RAE) in PPC’s costs and the former’s recent decisions regarding the reduction of rates concerning the use of transmission and distribution networks.

The government will also taken into consideration the fact that many households have seen their incomes shrink, in a bid to avoid making the price of power prohibitive. Consumers’ financial problems are best illustrated by PPC data regarding the level of unpaid debts owed to the company by its customers, which amount to 800 million euros, and the increase in the number of settlements for electricity bill debts.

According to data presented in Parliament on Monday by Public Power Corporation chief Arthouros Zervos, the unpaid electricity bills settled for 2012 reached up to 700,000, from some 400,000 in 2011.

The final level of the rate increases will also be given for approval to Prime Minister Antonis Samaras, and all signs at the moment point toward a total hike of 9 percent within the first six months of the year in three installments of 3 percent each.

The rate rises will come with decisions for the expansion of the so-called Social Domestic Rates for socially sensitive groups, based on the regulatory authority’s proposals.

The power regulator has also received demands from a number of industrial companies for the imposition of a temporary electricity rate on the medium-voltage bracket, in the same way that was applied in the cases of major industries Aluminium of Greece and Larco.

The firms argue they cannot pay the rate hikes that PPC unilaterally imposed in February 2012 along with the new increases this year.

ekathimerini.com , Monday Jan 7, 2013 (22:50)  
Importers told to pay up in advance
Jobless rate posts steady decline
Piraeus and KKR strike loans portfolio deal
German approval and praise come at key time
Stores wrecked in protests to be let off municipal fees
Athens Mayor Giorgos Kaminis on Thursday proposed that businesses in the capital that suffered damage when demonstrations turned violent on December 6, the sixth anniversary of the police ki...
SYRIZA rules out political consensus before polls
Leftist SYRIZA leader Alexis Tsipras on Thursday categorically ruled out any kind of consensus with other political parties before elections. “We are prepared at this historic moment to lead...
Inside News
SOCCER
PAOK loss at Giannina brings Olympiakos to within a point
The bad losses that PAOK and Panathinaikos suffered on the road on Thursday allowed Olympiakos to gain significant ground on the table and come to within one point from the top after the mid...
BASKETBALL
Reds lose in Turkey to motivated Galatasaray
Olympiakos went down at Galatasaray 79-74 on Thursday for its second defeat in the first round of the Euroleague that ended with the Reds topping their pool with eight wins in 10 games. With...
Inside Sports
COMMENTARY
New weapons of diplomacy
Hollywood screenwriters couldn’t make it up: That Sony, one of the world’s biggest film producers, would be forced to pull a comedy about the assassination of North Korea’s dictator after a ...
COMMENTARY
Europe´s drama in Greece needs final act to avoid tragedy
Judging from Wednesday's vote in the Greek parliament, Prime Minister Antonis Samaras may not get the mandate he wants to keep economic austerity measures in place and avoid defaulting on th...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. PAOK loss at Giannina brings Olympiakos to within a point
2. Reds lose in Turkey to motivated Galatasaray
3. Importers told to pay up in advance
4. Jobless rate posts steady decline
5. Piraeus and KKR strike loans portfolio deal
6. German approval and praise come at key time
more news
Today
This Week
1. Europe's drama in Greece needs final act to avoid tragedy
2. Election looms as Samaras fails to win vote for president
3. What SYRIZA says about Greece’s economy, its debt and the euro
4. Kammenos maintains firm position, says general election is 'one-way street'
5. Merkel says Russia sanctions to remain unless Putin yields; Greece's prospects 'better than two years ago'
6. Snap elections would lead to euro exit, says former premier
Today
This Week
1. Juncker warns Greeks against voting 'extreme forces' into power
2. Romanos and the dilemma
3. Samaras summons bond vigilantes with euro exit talk
4. A friendly yet firm message from Pierre Moscovici
5. Greece reruns doomsday scenario as politics collide with markets
6. Gap between SYRIZA and New Democracy closing, says poll
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.