Public Power Corporation (PPC) is keen to transfer its grid assets to the Greek Electricity Distribution System Operator (DEDDIE) in such a way as to ensure its return to the parent company if the tender for the sale of 49% of the grid operator does not bear fruit.
Ownership of the electricity network assets (low and medium voltage lines, substations, buildings, etc.) is now owned by PPC, while DEDDIE – a wholly owned subsidiary of PPC – has taken over the management of the network.
However, the plan for the concession of the 49% stake to a strategic investor with elevated management rights provides for the transfer and ownership of the assets to DEDDIE, which PPC’s knowledgeable staff is already working on with the company’s privatization consultants, Goldman Sachs and Eurobank .
Ensuring the return of ownership of the assets in the event that the 49% stake is not sold is set by PPC as a condition for their transfer to DEDDIE. Therefore, conditions are attached to the relevant regulation. As the owner, PPC receives 7% of the network usage revenue every year, which corresponds to around 200 million euros.