Greek govt officially announces intent to sell 49% of electricity transmission operator

Tuesday, 17 December 2019 10:27
UPD:10:27
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The government on Monday officially announced that it will sell 49 percent of the independent Hellenic Electricity Distribution Network Operator (DEDDHE), but with "heightened minority rights" in order to attract not only institutional but strategic investors, according to the relevant minister that announced the more-or-less expected development.

 A plan to liberalize and restructure the country's state-controlled energy sector, with the emphasis on loss-making Public Power Corp. (PPC), was announced by Energy and Environment Minister Kostis Hatzidakis, who spoke during debate in Parliament over the 2020 draft state budget.

He said the partial sell-off of the grid operator will generate a major cash infusion for PPC, the dominant electricity utility in the country, while also aiming to upgrade DEDDHE.  

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