PPC is DEPA’s largest consumer, absorbing more than 65% of DEPA’s sales. However, the same applies to PPC, as the fuel cost is a key factor of profitability.
In this context, sources spoke of Finance Ministry’s exhortation to speed up negotiations in order to proceed with privatization.
Although, both administrations are willing to accelerate negotiations, the companies’ technocrats appear to reach an impasse. The solution is not expected to be a win-win situation, as mutual concessions are necessary, which should be approved by the general meetings and particularly the main shareholder, namely the Greek state, according to sources.
DEPA calls for a long-term contract, while PPC responds that they should follow the international practice of duration that does not exceeds four years. PPC sources state that the only thorn to the agreement remains the duration, as the company should be obliged for a long time.
DEPA reportedly calls for the signing of a flexible and non-flexible agreement, while PPC asks for room for manoeuvres, not a contract of absolute central control.
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