PPC says customer arrears down in Jan-Feb

Customers’ arrears to Public Power Corporation (PPC) fell to 2.2 billion euros in the first two months of 2017 (excluding arrears included in debt settlement program), the electricity utility said in an announcement on Thursday.

PPC said its cash reserves in December 31, 2016 were 501 million euros, while its average borrowing cost fell to 4.64 pct in 2016 from 4.81 pct in 2015. The utility has completed investments of 750 million euros annually on average mainly to upgrade its network and its productive capacity.