Deadline to submit bids for PPC lignite-fired units bumped to July 15

Monday, 27 May 2019 20:06
UPD:20:07
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ATHEX-listed Public Power Corp. (PPC) on Monday announced that, following communication with the relevant ministry, a deadline by interested parties for submitting bids for the purchase of 3+1 lignite-fired power units will be moved back to July 15, 2019.

A relevant press release by the state-run power utility referred to "political developments" as moving back the deadline, a reference to the declaration of snap elections in Greece.

Three units go on the selling block, along with a mature license to build and operate a new unit.

The European Commission's competition watchdog, DG-Comp, along with institutional creditors have long demanded a further liberalization of the electricity sector in the country. PPC for decades operated as a "top-to-bottom" monopoly power utility, from every ton of lignite mined to each and every kilowatt delivered to retail, wholesale and industrial consumers.

A previous international tender was rule null and void, with PPC and the Tsipras government deeming the offers as unsatisfactory.

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