PPC

Following a meeting with creditors’ main representatives Energy Minister Stathakis said that there was a first agreement on the pending energy issues of the fourth review. Specifically, it was agreed that: a) the current RES charge on retailers will remain until 2020, though gradually reduced (as of April it is already reduced by 35% compared to last year), and afterwards it will be replaced by a new mechanism that will be mainly based on the purchase of green certificates, b) NOME auctions for electricity generated from lignite-fired power plants will be gradually phased out depending on progress on the procedure of the sale of utility’s lignite-fired power plants, c) an alternative proposal for the privatization of gas company DEPA was submitted to creditors for evaluation.

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