Increases in PPC tariffs from May 1

Speaking today at the Economist Conference Environment, Energy and Climate Change deputy minister Makis Papageorgiou announced low increases in PPC tariffs from May 1 and liberalization of prices from July 1.

Replying to a question, the deputy minister said that according to the relevant EU directive, PPC invoices will be deregulated on July 1, which means they should meet the cost of production.

"We have taken the first steps in the adjustment of tariffs by January 1 and will follow them up with the next step on May 1. The tariffs will not increase much because we have managed a smooth transition towards deregulation. PPC should always take into account the opinion of RAE. With the opinion of RAE I think there will be a balance so that consumers are satisfied and the prices reflect the cost of production," the Deputy Minister added.

Papageorgiou also mentioned the research for hydrocarbons saying "we evaluate the findings of seismic surveys to gain an insight into domestic deposits and move on to the next steps for their use on a large scale, once the initial data are confirmed."

On conclusion, referring to energy interconnections the deputy minister spoke of a great opportunity not to be missed and stressed the need for Greece, a vital part of trade and sea routes connecting the East with the West, to expand its role in energy. "We are in a better position. We carry out all that is needed to exploit these advantages in the best way and we draft energy projects that a few years ago seemed very distant," he said, making a special reference to the signing of the Intergovernmental Agreement on the TAP pipeline, the ratification of the memorandum for the IGI pipeline (Greece, Italy), etc.