ECONOMY

PPC in loan negotiations?

Public Power Corporation officials would not confirm or refute a report by Reuters on Monday suggesting that the Greek electricity giant has asked the Deposits and Loans Fund for a 130-million-euro loan.

A source close to the deal told Reuters that the request was for a three-year loan, while another said that the amount is equal to the funds that were seized from alternative energy suppliers Energa and Hellas Power as part of a criminal investigation.

PPC is desperately looking for funds as the energy market is facing the risk of crumbling under the weight of increasing debt.

However this loan is not said to be associated with the loan that grid operator LAGIE will seek for electricity producers to get paid, including PPC.