Stathakis: Price of electricity will not rise

The energy minister said that the end of the month he will announce the national energy plan, which provides for a gradual reduction of the use of lignite, based on the high environment targets for 2030,

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Environment and Energy Minister Yorgos Stathakis has offered assurances that the Public Power Corporation (PPC) will not hike electricity prices.

“The rights to emit greenhouse gases, as you know, pressure the situation. We shall let three or four months go by and see the vicissitudes and the impact they have, and if the levels do not recede, we shall see what we will do,” said Stathakis, when asked about a prospective rate hike. The ministry said that a price increase has been categorically ruled out.

“The PPC is under pressure, but it is not loss-making, Stathakis told News247.

Stathakis said that the end of the month he will announce the national energy plan, which provides for a gradual reduction of the use of lignite, based on the high environment targets for 2030, under which 32 percent of the energy consumed by Greece should come from renewable sources.

Stathakis said that the acquisition of the Skopje-based EDS group was carried out based on international practices and after a unanimous decision of the DEH Board. Regarding the LARCO company’s debt to the PPC, Stathakis said that a pay-back arrangement has been made, but that it has not been smoothly serviced over the last months.

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