Hefty benefits from power deregulation
A hydroelectric plant belonging to the Public Power Corporation (PPC), 51 percent-owned by the state, seen in this file photo. Power market liberalization is one of several conditions the European Union and International Monetary Fund imposed on Greece to continue funding a three-year 110-billion-euro bailout activated in May. Allowing investors to access PPC’s coal deposits could spur 4 billion euros of investments while also creating 1,500 jobs, according to the EU. The deregulation of the power market would also provide Greece with immediate budget relief, depending on how it awards the right to investors to develop lignite reserves, it added.
