ECONOMY

PPC wants grid asset condition for DEDDIE tender

ppc-wants-grid-asset-condition-for-deddie-tender

Public Power Corporation (PPC) is seeking to transfer its grid assets to the Hellenic Electricity Distribution Network Operator (DEDDIE) in a way that would ensure their return to the parent company if the tender for the sale of 49% of the grid operator does not bear fruit.

The ownership of the power network’s assets (low- and medium-voltage lines, substations, buildings etc) lies with PPC today, while DEDDIE – a 100% subsidiary of PPC – has obtained the management of the grid.

Nevertheless, the plan for the concession of the 49% stake to a strategic investor, with increased management rights too, provides for the transfer and ownership of the assets to DEDDIE, a process that the competent staff at PPC is already working on along with the privatization consultants, which are Goldman Sachs and Eurobank.

Securing the return of the assets’ ownership in the case that the 49% stake is not sold off is set as a condition by PPC for their transfer to DEDDIE, therefore the regulation to that effect will come with conditions attached. PPC, as the owner, receives 7% of the grid’s usage revenues every year, which amounts to some 200 million euros.