ECONOMY

Edison is new PPC suitor

Edison Hellas became the fourth bidder for cooperation with the Public Power Corporation (PPC), updating the proposal parent company Edison had submitted three years ago. «Edison’s intention is to bring back for discussion the proposal it had tabled in 2005 in the context of the business plans and cooperations it has channeled in Greece,» a top official from the company told Kathimerini. Edison has a strategic alliance agreement in the local market with the Hellenic Petroleum group, which is expected to be completed in the next couple of months, while it also cooperates with Hellenic Technodomiki TEV and Viohalco. The proposal that Edison tabled three years ago provided for the joint construction of coal plants in Greece, the participation of PPC in Edison’s plants in Italy and the participation of Edison Hellas in renovating and operating 30 percent of PPC’s old units. It had also provided for the joint bidding for a market share in the Southeastern European market. The issue of cooperation between Edison and PPC was reportedly on the agenda of the meeting that Development Minister Christos Folias had yesterday in Rome with the heads of the parent company. The other suitors hoping to cooperate with PPC currently are Germany’s RWE, Spain’s Endesa and Greek company Halyvourgiki. They are all awaiting PPC’s decision, which sources say may be only RWE and Halyvourgiki. Cooperation with these two will be the focus on next Tuesday’s meeting of the company’s board.