PPC eyes power rate deregulation in early 2012

Public Power Corp. (PPC) president and managing director A. Zervos on Monday announced the utility's results for 2010, referring to a full deregulation of power rates as of early 2012 for major customers -- but excluding households and small businesses.

Last year, according to the figures announced, PPC's market share in the domestic market totaled 77.3 percent of total demand (down from 85.6 percent in 2009) since new power suppliers have emerged in the power market, while several major industrial consumers have turned to direct imports.

For 2011, PPC also expects adverse conditions, thereby quadrupling its risk factor for unpaid bills.

According to results, pre-tax profits for 2010 reached 740.7 million euros, as against 993.1 million in 2009 (-25.4 percent), while the post-tax profits amounted to 557.9 million euros, as against 693.3 million (-19.5 percent).

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