ECONOMY

Solutions sought for PPC plant sale

The leadership of the Environment and Energy Ministry is seeking alternative ways that would be less painful politically for the opening up of the electricity market, ahead of the meeting today with the representatives of Greece’s creditors. The experts from the European Commission, the European Central Bank and the International Monetary Fund are set to present today an addendum to the memorandum signed with the Greek government, introducing an ultimatum to Athens for a decision to sell some of the Public Power Corporation’s (PPC) lignite and hydroelectric plants. The deadline will be set for this September, in order to channel the process in time for selling off the plants by March 2011. PPC is under pressure to sell some 40 percent of its lignite and hydroelectric production units but for the last decade has refused to discuss it. Sources suggested that there were five different ideas discussed yesterday at an emergency meeting at the ministry ahead of the talks the general secretary for energy will have today with the foreign experts.