Tuesday April 28, 2015 Search
Weather | Athens
14o C
09o 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)  
Greece to offer taxpayers a deal to get money back home
Greek shares outperform amid bailout deal hopes
Cyprus central bank head says ready to act if Greece spills over
Austrian FinMin hopes Greek debt team reshuffle brings progress
Greek, Turkish Cypriot leaders to kick start peace talks
Greek Cypriots unveiled measures on Tuesday to boost trust across the ethnically divided island, and announced that rival leaders would hold their first meeting in months on May 2. Peace tal...
EU lawmakers demand migrant burden be shared
EU lawmakers on Tuesday demanded the bloc share the burden of accepting asylum seekers as the pressure on southern European countries from migrants crossing the Mediterranean showed no sign ...
Inside News
BASKETBALL
Rethymno defeats in-form AEK on Crete
AGO Rethymnou put an end to a positive string of results for in-form AEK, while PAOK survived a strong challenge by Kolossos Rhodes in Thessaloniki in yet another exciting weekend of basketb...
SOCCER
Panathinaikos beats Xanthi to rise to second
Panathinaikos jumped back up to the second spot of the Super League after its home win over Xanthi on Saturday, as PAOK slumped to third due to its draw at home with PAS Giannina on Sunday. ...
Inside Sports
COMMENTARY
The Good, the Bad and the Ugly
It is so exhausting and unpleasant for average Greek citizens to keep hearing for weeks now that the country’s cash reserves will run out in two months, one month, next week, and especially ...
EDITORIAL
Better late than never
Three precious months were lost in the government’s negotiations with the country’s international partners and creditors, as some of its officials wasted time on their own self-promotion, ha...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greek, Turkish Cypriot leaders to kick start peace talks
2. Greece to offer taxpayers a deal to get money back home
3. EU lawmakers demand migrant burden be shared
4. Dijsselbloem says Greece will not make it without aid
5. Railway workers join ferry staff in Labor Day strike
6. Greek shares outperform amid bailout deal hopes
more news
Today
This Week
1. The Good, the Bad and the Ugly
2. Creditors to demand extra measures of 3 bln euros
3. Plan on the cards for flat VAT rate of 18 pct
4. Greek PM says people may have to rule on creditor deal [Update]
5. Greek PM says initial deal in bailout talks 'very close'
6. No trolley buses from 11 a.m. to 4 p.m.
Today
This Week
1. Greek government's popularity takes a hit as talks drag on
2. Denialism
3. Europe's collision course with Greece
4. It's up to the Greek government to ensure deal with lenders, says ECB's Coeure
5. Leaving the past in the past
6. Greece’s day of reckoning inches closer as debt payments loom
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.