Greece: Power utility PPC decreases electricity prices for business customers

, SEE Energy News

Greek Public Power Corporation (PPC) has decided to extend its 15 % discount, which was initially offered to households and business customers who pay their electricity bills on time, to mediumvoltage industrial customers.

However, some customers from this category have certain concerns regarding this move, and consider that it does not satisfy the obligation set by the Energy Regulatory Authority (RAE) as it offers individualized tariff agreements. Last September, a discount of 12 % has been already approved for this category of consumers.

This is yet another of PPC’s efforts in order to improve bills collection and reduce the level of unpaid electricity bills which reached over 2.2 billion euros.

PPC posted a turnover of 1.4 billion euros in the first quarter of 2016, which is 8.8 % less than in the same period last year when total turnover amounted to 1.55 billion euros. On the other hand, the company’s earnings before taxes, interest, depreciation and amortization (EBITDA) increased by 10 % in the this year’s first quarter. After tax profits amounted to 85.6 million euros compared to 55.7 million euros in the first quarter of 2015, transmits