ECONOMY

Crucial PPC report anticipated on Tuesday

crucial-ppc-report-anticipated-on-tuesday

The crucial report by the certified accountant on the state of Public Power Corporation is expected on Tuesday, along with the governing board’s approval and publication of the utility’s first-half financial results.

It remains to be seen whether measures taken by the Energy Ministry in the last few weeks to bolster the corporation’s liquidity are viewed as sufficient to reverse Ernst & Young’s particularly negative estimates, reflected in its report accompanying the first-quarter financial results.

Although the H1 results are not expected to be very different to those of Q1, when the corporation showed after-tax losses of 218.2 million euros, this time the report is expected to be less harsh, factoring in the measures taken this summer.