Mitsotakis meets EU Commission VP Sefcovic, discusses PPC privatisation

Main opposition New Democracy leader Kyriakos Mitsotakis had a meeting with European Commission Vice President for energy issues Maros Sefcovic in Athens on Friday, focusing mainly on the privatisation of the Public Power Corporation (PPC), Greece’s state-controlled power company.

An ND press release said talks had also focused on Greece’s role within the EU’s Common Energy Policy and its aims.

“The current government’s very limited progress on energy issues has generated a number of questions about the country’s energy course and stability, especially after 2018, ahead of the planned privatisation of 40 pct of PPC,” ND sources noted. The discussion also touched on the risk of a serious PPC liquidity shortage in the near future, the sources said.

Mitsotakis, on his part, had not focused only on the need to open the market but also on the need to rescue PPC, they said.

“The government is proceeding with the sale f the most profitable PPC assets but, unfortunately, at the lowest possible prices. Greek authorities have not only failed to protect the interests of buyers (with European energy companies having as their goal and divestment from carbon markets) but also of the sustainable growth of the company, the sources said.

Sefcovic said that Greece must pull out of the lignite coal markets, developing renewable energy sources and gas purchases instead. He noted that Greece has absorbed 520 million euros for energy issues in recent years, which could be levered to yield many times that amount via the European Investment Bank, Juncker Plan and private investment.

Both men agreed on the need to increase the energy efficiency of Greek buildings.