37% increase in PPC tariffs

Increases in PPC bills, which the company is proposing to the Regulatory Authority for Energy and the Environment ministry, will become a new burden on consumers as of the new year, the 13th series of increases for households within 2 years.

According to the "Ethnos" newspaper, the company recommends an increase of 37% in three installments as a result of the Troika demands for deregulation of domestic tariffs, and is also provided for in the draft memorandum agreed on by the Greek government and its lenders.

The first installments will come on January 1, 2013 when the Environment ministry, together with the ministry of Finance, should issue a decision to rebalance tariffs, the second will come on March 1 and the third on July 1, when the tariffs are fully deregulated.

As required by the memorandum, the government is expected to exclude from such increases the socially vulnerable groups by introducing special PPC tariffs, but without clarifying whether increases in these categories will be less than or equal to zero.