Bloomberg News

Greek State, Clients Owe PPC Almost EU700 Million, ANA Says

August 29, 2012

Public Power Corp SA (PPC), Greece’s biggest electricity provider, faces liquidity problems as the Greek state and private users owe the company as much as 700 million euros, state-run Athens News Agency reported, without saying where it got the information.

The Greek state needs to repay a debt of as much as 200 million euros to the company, while private users of PPC’s services owe the company as much as 500 million euros, ANA said.

Greek finance minister Yannis Stournaras and Public Power chairman Arthouros Zervos held a meeting to discuss the possibilities of a repayment in Athens today, the news agency reported.

Public Power does not plan to exercise an option to acquire a 30 percent stake in Depa, the country’s natural gas supplier, ANA said, citing company officials.

To contact the reporter on this story: Eleni Chrepa in Athens at echrepa@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net


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