Bloomberg News

Public Power Cutting Supply to 30,000 Greek Clients Each Month

November 15, 2012

Public Power Corp. (PPC) SA, Greece’s biggest electricity company, each month has been cutting off power supply to about 30,000 clients for failing to pay their bills, Chief Executive Officer Arthouros Zervos said.

That represents a minority of the power company’s clients that are “inconsistent” with payments, Zervos said in response to questions in Parliament today.

Austerity measures imposed by the government in exchange for loans from the International Monetary Fund and the European Union have led the country into its fifth year of recession with an unemployment rate of 25.4 percent.

To contact the reporters on this story: Eleni Chrepa in Athens at echrepa@bloomberg.net; Antonis Galanopoulos in Athens at agalanopoulo@bloomberg.net

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


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