Splitting DEH in two

The Energy Ministry and its consultants have decided this would offer potential investors an attractive portfolio that would not harm the value of the part of the company that remains in the state’s hands.

This “small DEH” plan foresees that electricity plants with a total capacity of 3,000 megawatts be included in the deal. They have also examined all existing units to draft plans for the fuel mix proposal of the small PPC. They are further considering the creation of two companies with an output of 1,500 MW apiece. The sale of “small PPC” is expected to be completed by 2015, two years later than originally planned. All employees of PPC will be transferred to this new company.

Athens was committed to completing the privatization procedure for DEH by the end of 2013. However, the discussion with our Greek creditors on this issue is still pending. The government hasn't discussed in detail the final plan for the company with its creditors yet.