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25.04.2016 12:49
© ADMIE
Negotiations between the Energy Ministry and the representatives of the country’s creditors made significant progress this week with the drafting of a particularly tight timetable that foresees the completion of a complicated plan for splitting the Independent Power Transmission Operator (ADMIE) from Public Power Corporation (PPC).
It is not yet clear whether the final agreement includes a provision contained in the original draft regarding the alternative of a 100 percent sale of ADMIE in the case that the above plan is not achieved, Ekathimerini reported.
The agreement between the ministry and the creditors provides for the immediate launch of the process separating the grid operator from PPC just after Parliament ratifies a bill replacing an older law that provided for the sale of 66 percent of ADMIE.
It is reminded that the new bill dictates the sale of a 49 percent stake of ADMIE to the private sector (29 percent to a strategic investor and 20 percent floated on the Greek stock market), while the remaining 51 percent will be passed on from PPC to the state. The bill is also set to regulate all issues pertaining to the compensation that PPC will receive for the sale of the 51 percent stake in ADMIE to the state.
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