No risk of PPC sustainability, Energy Minister says
- Written by E.Tsiliopoulos
The compensation for the Public Power Corporation (PPC) after the Independent Power Transmission Operator (ADMIE) spin-off will be given in its total and as provided by the Greek state, Environment and Energy Minister Panos Skourletis said in a conference on Monday.
"By no means will we set at risk the sustainability of PPC," he stressed.
Skourletis said that the control of the networks was always a red line for the government. The new ADMIE will be initially 100 percent state-run, a 29 percent will be then sold through the stock market and a 20 percent will be sold to a strategic partner. Moreover, the majority of the board will be controlled by the state, the managing director will be a person of mutual acceptance and the management will remain to the State.
The PPC compensation will come from the sale of the 49 percent and a part (up to 10 pct) of new ADMIE's profit before taxes (EBITDA). The timetable for the project is also very tight as it should be completed in 2016, Skourletis underlined.
Related items
-
PSEKA demarche to Congress and White House for Turkish F-16s
-
Former SYRIZA minister protests against war in Iran with portrait of Khamenei
-
Reactions in Congress regarding Turkish F-16s in occupied territories
-
The Roma family with the golden sovereigns declared zero taxable income, owned villas and luxury cars
-
Polish national arrested on espionage charges on Crete
Latest from E.Tsiliopoulos
- PSEKA demarche to Congress and White House for Turkish F-16s
- Former SYRIZA minister protests against war in Iran with portrait of Khamenei
- Reactions in Congress regarding Turkish F-16s in occupied territories
- The Roma family with the golden sovereigns declared zero taxable income, owned villas and luxury cars
- Polish national arrested on espionage charges on Crete
