Greek government and lenders reach agreement on energy issues

Greek government and lenders reach agreement on energy issues

Published at: 2016-04-14 09:30 | Author: CIJ Greece
Greek authorities and the institutions on Tuesday finalized an agreement on ADMIE and energy auctions by Public Power Corporation aimed at liberalizing Greece's electricity market. Even though the main talks between the Greek government and institutions were put “on hold” late on Monday, in order for IMF representatives to travel to Washington for its spring meeting, the Greek Minister of Energy Panos Skourletis met with the institutions.

Speaking to ANA-MPA after a meeting, he announced that an agreement on Independent Power Transmission Operator (IPTO or ADMIE) envisaged the transfer of a 51 percent from Public Power Corporation to the state, while the remaining 49 percent is to be offered to a strategic investor who will be the manager of the grid.

The state will control a majority of the board. Greek authorities will draft a new regulation regarding the auction of lignite and hydro-electric power production by Public Power Corporation (PPC). The first auctions are expected in the second half of 2016.

Minister Skourletis has refuted media reports suggesting that a VAT hike in electrical bills is being planned. The Energy Minister also ruled out the possibility of a hike in the diesel tax.

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