ECONOMY

Alternative PPC privatization plan

The sale of the lignite plants of Megalopoli (pictured) in the Peloponnese and Amyntaio in Macedonia are included in the government?s new proposal to the European Commission for splitting up the Public Power Corporation, according to an announcement by Energy Minister Giorgos Papaconstantinou on Monday.

This alternative scenario to an extensive privatization of Greece?s near-monopoly in power provides for the creation of a smaller firm with properties from PPC that will be conceded to private investors through an international tender.

This is also linked to European Union requirements for the opening up of the lignite market, the minister said.