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

Today, Public Power Corporation reported that its pre-tax profits soared to 109.3 million euros in 2014's first quarter, compared to 45.1 million euros in last year's timeframe.

Geek high and medium voltage energy users will benefit shorty, with a reduction in electricity rates, due to the 20% to 30% auction of Public Power Corporation's independent hydroelectric and thermal outputs.