Friday August 1, 2014 Search
Weather | Athens
32o C
25o 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)  
Traders unhappy with turnover
No rivals for Intralot as it bags racing bet permit
Energy cost cuts even without EU approval
KEPE: Greek economy returned to growth in Q2
Greece to help ´hundreds´ of Chinese leave Libya
With the violence in Libya escalating to its worst level since the 2011 ouster of dictator Moammar Gadhafi, governments from around the world are scrambling to evacuate their citizens from t...
Plan to restore Asopos River enters final stage
Plans are in the final stage for the ecological restoration of Asopos River in Central Greece following a deal to install an integrated water resources management system. The 37.6-million-eu...
Inside News
SOCCER
One win and one loss in Europa League
Greece had a hit and a miss in the first-leg games for the third qualifying round of the Europa League on Thursday, as Atromitos scored a 2-1 win at Sarajevo while Asteras Tripolis lost 1-0 ...
SOCCER
Goalless draw at Liege puts Greens in driving seat
Panathinaikos got the upper hand in the battle for entry to the Champions League playoffs after snatching a goalless draw at Standard Liege on Wednesday. If anything, the Greek cup holders m...
Inside Sports
COMMENTARY
In trying to conquer, Putin unites Europe
President Vladimir Putin is obliged to feign indifference to the sanctions that the European Union and the United States imposed on Russia this week. But, being the player that he is, he mus...
COMMENTARY
Summer turbulence
High summer temperatures appear to have messed with the reflexes of officials at the top echelons of Greece’s power-sharing administration. A sense of anxiety has gripped the political syste...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. One win and one loss in Europa League
2. Greece to help ´hundreds´ of Chinese leave Libya
3. Traders unhappy with turnover
4. No rivals for Intralot as it bags racing bet permit
5. Energy cost cuts even without EU approval
6. KEPE: Greek economy returned to growth in Q2
more news
Today
This Week
1. Motorists refusing to pay tolls on Corinth-Kalamata highway to be monitored
2. Euro flows reveal shift in sentiment as losses mount
3. Greece may ignore EU and lower energy costs for business, says minister
4. EU puzzles over emergency funds for euro area bank crisis agency
5. Only 5 percent of stores see brisker business during this year's summer sales
6. Fake psychic caught in Thessaloniki after gaining 35,000 from victim
Today
This Week
1. Quadriplegic woman on life support 'dies due to unpaid power bills'
2. Wine cup used by Pericles found in grave north of Athens
3. Defense Minister Avramopoulos to represent Greece at European Commission
4. World’s largest solar boat on Greek mission
5. Greece names fifth privatization agency chief in four years
6. Greek coast guard picks up 77 migrants off Myconos
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.