ECONOMY

A smaller PPC set to go up for sale

The government is in favor of selling a spin-off of the Public Power Corporation (PPC).

The Energy Ministry and its consultants have decided this would offer potential investors an attractive portfolio that would not harm the value of the part of the company that remains in the state’s hands.

This «small PPC» plan has led privatization consultants to propose that electricity plants with a total capacity of 3,000 megawatts be included in the deal. They have also examined all existing units to draft plans for the fuel mix proposal of the small PPC.

They are further considering the creation of two companies with an output of 1,500 MW apiece.

The consultants’ talks with the ministry have intensified as Prime Minister Antonis Samaras has ordered that the definitive plan be submitted to representatives of the country’s creditors by the end of the month.

Athens has committed itself to completing the privatization procedure for PPC by the end of 2013.