ECONOMY

EYDAP to discuss reduction of water rates

Athens Water Company (EYDAP) chief Stelios Stavridis will recommend slashing the commodity’s rates by 1.5 percent to 2.5 percent at an EYDAP board meeting this Thursday, as the man who has also been appointed to lead the state privatization fund (TAIPED) said on Friday.

The utility’s chairman and chief executive also said he will recommend the reduction of rates for special social groups by 20 percent.

Speaking on the occasion of International Water Day, Stavridis stated that “EYDAP’s people, with a sense of major social and environmental responsibility and after a full study of the data available, have managed to realize what we had promised some three months ago. On March 28, the governing board will discuss and hopefully approve the proposal for the reduction of water and sewage rates that will be sent to the responsible ministries. The reduction of expenditure and waste makes us optimistic that despite the proposed rate reductions, EYDAP’s profits will not be affected.”