Deadline for alternative power firms

Monday is deadline for alternative power suppliers Hellas Power and Energa which must pay 27 million euros to grid operator DESMIE for the electricity they have acquired for their 200,000 clients.

If the two companies, which are competing with Greece’s giant Public Power Corporation (PPC), fail to pay the money by Monday, they will be stripped of their license and their 200,000 customers will return to PCC.

In a joint statement, the companies attacked DESMIE and Greece’s Regulatory Authority for Energy (RAE) for allegedly undermining efforts to meet their obligations.

The companies say they were prepared to submit the money on Friday only to find that their bank accounts had been frozen by the authorities, said the statement.

Possible default of the two firms will jeopardize the opening up of Greece’s power market.

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