Halyvourgiki: End of season for the historic industry - PPC pulled the plug

The power regulatory authority proceeded with the process that was activated by PPC, a few hours ago, precipitating the consequences of lifting the representation of the firm.

The lifting of representation, which means that Halyvourgiki is no longer a customer of PPC, took place yesterday as the grace period ended without the conciliation between the two parties for the settlement of the outstanding debts of the industry to the PPC, amounting to 31.8 million euros.

Halyvourgiki employees' representatives were also informed by the PPC administration in early December about the problem of accrued debts and non-payment of the company's current accounts.

This development came after the failure of the "last chance" offer that had been given to find a solution for Halyvourgiki to continue to be supplied with electricity by the PPC and today the new deadline expired, which the PPC had given, in order to "freeze" in the interim the consequences of lifting of industry representation.

It should be noted that Halyvourgiki is the largest debtor of PPC after state-controlled LARKO which has debts of 300 million euros.