Greek lawmakers pass bill for sale of lignite units of major power firm
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E-mail Xinhua, April 27, 2018
By Maria Spiliopoulou
ATHENS, April 25 (Xinhua) -- The bill for the sale of lignite units owned by Greece's main power utility, the state-owned Public Power Corporation (PPC), was passed by the plenary of the parliament on Wednesday with 151 votes in favor and 124 votes against, Greek national news agency AMNA reported.
Environment and Energy Minister George Stathakis argued that the sale following an international tender which will be completed this year, would bring better days for the PPC and Greece's energy sector.
Local communities will benefit from cheaper power and national funds for the transition to the post-lignite period, he said.
The sale of plants number 3 and 4 in Megalopolis in southern Greece and units in Florina in northern Greece equal to about 40 percent of its PPC's capacity, is part of Athens' commitments to its international lenders under bailout agreements.
The liberalization of Greece's energy market will end the decades old monopoly status of the state-controlled company. Currently PPC has an almost 90 percent share of Greece's retail market.
A market test by the European Commission was held recently on the 15 enterprises that expressed interest to participate in the tender.
PPC Chairman and CEO Manolis Panagiotakis told Xinhua in an interview last year that the corporations plans the future seeking credible partners.
The agreements PPC sealed with major Chinese companies lately showed that Chinese investors can hold a key role in Greece's new strategic energy planning, Panagiotakis said.
An example, he said, was the purchase of a 24-percent stake of power grid operator ADMIE by China's State Grid last year following an international tender. Enditem
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