By no means will we set at risk the sustainability of PPC, Energy Min Skourletis says

The compensation for the Public Power Corporation (PPC) after the Independent Power Transmission Operator (ADMIE) spin-off will be given in its total and as provided by the Greek state, Environment and Energy Minister Panos Skourletis said in a conference on Monday.  

By no means will we set at risk the sustainability of PPC, Energy Min Skourletis says

"By no means will we set at risk the sustainability of PPC," he stressed.
Skourletis said that the control of the networks was always a red line for the government. The new ADMIE will be initially 100 percent state-run, a 29 percent will be then sold through the stock market and a 20 percent will be sold to a strategic partner. Moreover, the majority of the board will be controlled by the state, the managing director will be a person of mutual acceptance and the management will remain to the State.
The PPC compensation will come from the sale of the 49 percent and a part (up to 10 pct) of new ADMIE's profit before taxes (EBITDA). The timetable for the project is also very tight as it should be completed in 2016, Skourletis underlined.

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