ECONOMY

Skourletis: It will be hard to keep PPC public

skourletis-it-will-be-hard-to-keep-ppc-public

Energy and Environment Minister Panos Skourletis will have less than 15 days to draft any alternative plans to “safeguard the public character of Public Power Corporation,” as ruling party SYRIZA promised before the election and he himself repeated upon assuming his duties at the ministry on Wednesday.

Skourletis, who had already spent two months as energy minister this summer, admitted that the government’s hopes of keeping PPC in the public sector will be difficult to see through. This is why, sources say, the management of PPC is examining a plan for the sale of power production units as a “counterattack” against the very likely scenario of the country’s creditors bringing the plan for a “Small PPC” back to the negotiating table.

The separation and sale of part of the production capacity, power distribution network and clientele of PPC, known as Small PPC, may well re-emerge if the government fails to convince the creditors regarding its alternative plan for the privatization of the Independent Power Transmission Operator (ADMIE) and another for the reduction of PPC’s share in lignite and hydroelectric power production through auctions.