Environment Minister Tina Birbili presented a law bill that opens electricity market, giving private companies access to up to 49% of electricity transmission network.
This development reverses the status in the energy market, as the Greek government had decided not to proceed with the privatization of Public Power Corporation.
However, amid European Commission pressures, Greek government promoted the solution of a mild privatization, which can be implemented through stock market or direct sales to interested companies.
The new law bill provides the establishment of Hellenic Transmission System Operator SA (ADESMIE), 100% subsidiary of PPC, which will handle the Hellenic transmission system of electric energy.
Market sources noted that the granting of network’s minor stake, helped Greek government to resist pressures for the privatization of PPC.
Environment Ministry΄s bill took both market and workers’ union by surprise, since neither of the two parties had been previously informed of the ministry’s decision.
This development reverses the status in the energy market, as the Greek government had decided not to proceed with the privatization of Public Power Corporation.
However, amid European Commission pressures, Greek government promoted the solution of a mild privatization, which can be implemented through stock market or direct sales to interested companies.
The new law bill provides the establishment of Hellenic Transmission System Operator SA (ADESMIE), 100% subsidiary of PPC, which will handle the Hellenic transmission system of electric energy.
Market sources noted that the granting of network’s minor stake, helped Greek government to resist pressures for the privatization of PPC.
Environment Ministry΄s bill took both market and workers’ union by surprise, since neither of the two parties had been previously informed of the ministry’s decision.
