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Athens Macedonian News Agency: News in English, 15-12-09
CONTENTS
[01] Gov't, Institutions agree on grid operator's split from power company
[01] Gov't, Institutions agree on grid operator's split from power company
A meeting between the relevant environment and energy minister and
representatives of the Institutions representing Greece's creditors
ended on Wednesday with an agreement on separating the country's
power transmission grid operator ADMIE from the state-run Public Power
Corp. (PPC), although disagreement remained on whether ADMIE's management
should remain under state control, sources said.
The two sides reportedly agreed that ADMIE should be separated from
the PPC through the creation of a new company, in which the Greek state
has a 51-pct controlling share. The state will initially have 100 pct
ownership, after which 49 pct will be sold to private investors based
on a specific schedule.
The two sides also agreed on the form of compensation that PPC will
receive for the split over time, as well as the various methods that
will be involved, such as the transfer of a part of PPC's debt to the
new company, the offsetting of some 400 million euros in PPC obligations
to ADMIE and others.
Minister Panos Skourletis represented the government.
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