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Alternative Power Suppliers To Re-Enter Greece

Hellas Power and Energa, the two alternative power suppliers in Greece besides PPC, announced on Friday their intention to re-enter the Greek market and claim 70 million Euros from DESMIE, the Hellenic Transmission System Operator. The Council of State has accepted the request of the two private companies asking for the annulment of the ministerial decision, which imposes the charges of General Interest Services on them for the years 2009-2011.

The Council’s decision overturns the demands of DESMIE and automatically renders it a debtor to the two companies. The operating licenses of the two companies could also not be revoked.

The two companies said during their joint press conference that part of the 70 million Euros would be returned to their former customers.

According to AMNA, Worldwide Energy Limited (WEL), the company which bought the two retail electricity providers last November, told reporters that the company was seeking compensation worth more than 350 million euros.

Author: Stella Tsolakidou
Monday, February 13, 2012