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PPC Plans Electricity Rate Alterations

Public Power Corporation (PPC) is aiming to increase residential electricity rates, while decreasing businesses rates.

The pricing alterations will begin on July 1st and will administer memorandum protocols, to eliminate electricity rates' cross-subsidies. At a shareholder's meeting yesterday, PPC Chief Executive Arthuros Zervos claimed that agriculture electricity levels will not be altered.

Zervos did not confirm the actual figure changes regarding business and residential electricity figures. He did comment that costs are still one of the lowest in the European Union.