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Power grid operator ADMIE for privatization

New legislation says a 66% stake of power grid operator ADMIE is up for grabs, but the next stage of the confrontation will include a worker strike, with potentially lengthy power cuts.

It has been one of the most polarizing issues in the public sector with advocates and opponents arguing to death. The Public Power Corporation (DEH) grid privatization plan has been highly contested in parliament by opposition party SYRIZA and conservative coalition partners New Democracy. The issue may have been settled in parliament, but that's certainly not the end of it.

The coalition government had the majority of votes on it, the legislation was approved and a 66% stake of power grid operator ADMIE is up for grabs, but the next stage of the confrontation will probably include a worker strike, with potentially lengthy power cuts.

Parliament opposition objections have been powered by the upright opposition by the DEH workers union, which don't want to hear a word about privatization. And if the past is any indicator, they will strike hard and with a vengeance against the new law.

The newly approved bill allows potential investors to bid for 66% of the grid, which runs about 11000 kilometers of high voltage power lines across the country. The ADMIE sale may not be part of Greece's obligations under the memorandum, but it does comply with EU energy laws that demand stand alone grid operators instead of grids as part of a public power company.

The opposition and the unions are adamant that this move is one step closer to a fully privatized DEH (a definite red line for them) and main opposition party SYRIZA have pledged to reverse the sale if it comes to power. This usually means strikes with electric power cuts which cause frustration and chaos among individual citizens and businesses.

The most worrying part of all this is that the sale is expected to go through later this year. Since Greece is famous for a really hot summertime with thousands of tourists depending on the use of electricity, a potential summer deal will most certainly mean devastating power cuts in the middle of a heatwave. Greeks are unfortunately used to such practices, but tourism will really suffer under such a potentiality.