ECONOMY

Preparation for power rate liberalization

Electricity rates will be completely liberalized in Greece as of July 1, 2013, and Energy Minister Giorgos Papaconstantinou announced on Monday that the study on which the opening-up process will be based should be ready by June.

He also told journalists that the government to emerge from the upcoming elections will handle crucial issues in the energy sector such as the sale of Public Power Corporation?s thermal plants and the further privatization of the company, as well as the liberalization of rates for domestic consumers.

Regarding industrial rates, Papaconstantinou called on PPC to review the increases it has proposed which have met with a strong reaction from energy-intensive industries and an intervention by the Regulatory Authority for Energy (RAE).