ECONOMY

PPC to pull plug over unpaid bills

ppc-to-pull-plug-over-unpaid-bills

The management at Public Power Corporation appears determined to bring a halt to the growth of unpaid electricity bills that have soared to 2.2 billion euros.

Greece’s main power firm has ordered the Hellenic Electricity Distribution Network Operator (DEDDIE) to cut the supply to 50,000 connections across the country. They are consumers identified via a new electronic system based on consumption and the level of debt.

This is the first power cut program to be introduced as a part of PPC’s effort to improve its collection performance, and the time of its implementation will depend on the speediness of the Independent Power Transmission Operator (ADMIE) technicians.

In the same context, PPC is for the first time adding the Larco Mining and Metallurgical Company, whose unpaid debts now exceed 200 million euros, and are growing by 5.5 million euros per month. In the last few months Larco has only paid 500,000 euros. PPC began negotiations with the mining company’s new management regarding the settlement of the debts, but they came to nothing, so the power utility is about to send a letter of warning informing Larco that unless the debts start getting paid it will turn the switch off.