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15 Nov

Interview of the Chairman of GREEN S.A, Vyron Vasileiadis, in

Interview of the Chairman of GREEN S.A, Vyron Vasileiadis, in




Six companies claim the most economical charges.


The liberalization of electricity and the difficulties surrounding the sale of PPC


The ‘energy battle’ and the race for the most economical charges, for residential, commercial and industrial customers, continues between the six companies active in the supply of electricity in the domestic market.


The following companies are active in the Low and Medium Voltage arena, namely the PPC on the part of the state, Elpedison (from ELPE and the Italian company Edison), Heron (belonging to the group GEK TERNA and Gaz De France Suez), GREEN SA belonging to Byron Vassiliadis, Voltera (owned by J & P Avax and the Italian company sorgenia) and Watt + Volt owned by Anastasios Papapanagiotou.


The Regulatory Authority for Energy (RAE) in the framework of its powers, and with the goal to protect energy consumers, but also with the purpose of monitoring and supervising the energy market in all sectors, proceeded to compare the quarterly accounts of power supply companies.


From the result of the survey it was clear that there is a need for the further liberalization of the electricity market, and this is something which all interested parties have been arguing in favour over the past year.


The president of Green SA, Byron Vassiliades commenting to «» on the results of RAE, highlighted the need for healthy competition to exist between the players, healthy competition from which everyone will benefit, especially the public.  "It is important that the ‘alternative’ electricity providers win back the trust of the customers, in order for there to exist stability in this market, with a framework that allows for capital investments, while at the same time allows for fair competition. Green SA has a customer oriented philosophy, and we hope to continue to be the most competitive company in the market. Competition will only benefit consumers in a market where there will be no blows below the belt. The goal of liberation is common for all."


The sale of PPC opens the door for the liberalization of the market


In July of this year a new era began in the electricity sale and purchase market, as the invoices issued by the PPC are now issued without any interventions, and this marks the gradual liberalization of the retail electricity market in our country.


At the same time, some argue that a complete liberalization of the electricity market in our country will only take place when the PPC is privatized. This includes the privatization of electricity production units which belong to the PPC and which represent 30% of the power that is generated. Furthermore, the government's plan includes the sale of part of the network and thereafter the sale of 17% of the PPC from the total shareholding of 51% currently held by the state.


Existing Debts are an obstacle to privatization


One of the problems in privatizing the PPC are the existing unpaid bills of consumers towards the PPC. The outstanding invoices amount to 1.3 billion Euro.


Specifically, from the total debt of 1.3 billion approximately 380 million Euro relate to outstanding invoices regarding high voltage customers. Respectively, about 600 million Euro relate to unpaid bills of low voltage customers, of which 65% represents debts from residential customers. This means that unpaid invoices from households amount to 390 million euro.

The remaining debt of approximately 180 million Euro concerns unpaid bills from Medium Voltage customers that means from small industries and large stores, office buildings, etc., while approximately 190 million Euro concern outstanding invoices of the public sector.


At the same time we have seen an increase in contracts which are rescinded. Before the commencement of the financial crisis in Greece such terminated contracts amounted to approximately 80.000 to 85.000 whereas now they have risen to 400.000. We are referring to contracts with businesses, offices or shops that have terminated business and the debts which they have left behind will be collected with great difficulty.


Obviously the climate which currently exists causes problems with regard to the desired balance of the energy market, as well as concerning the prospects of privatizing the energy sector.


As a result of the problems created, from the height of all outstanding invoices and the lack of liquidity, the privatization of the PPC as well as of ADMIE and DEPA have come to a standstill.   All this has a domino effect as the debt is passed along the whole market chain. Already, the PPC owes about 200 million Euro to ADMIE, and 96 million Euro to LAGIE, the effect even reaches the independent power generators and ultimately DEPA.

Πήγη: Deal News Online (