ECONOMY

PPC agreed payment plans with 700,000 customers in 2012

The Public Power Corporation agreed on payment plans with about 700,000 customers last year as they were unable to pay for their electricity bills, the firm’s CEO Arthuros Zervos has revealed.

In response to a question from a Democratic Left MP, Zervos said the settlements reached last year represented a big increase on 2011, when PPC had to work out compromises with 400,000 customers.

The company is due to announce rate hikes of around 11 percent this week.