In accordance with the terms of the third bailout package, Greek Public Power Corporation (PPC) will have to open up its electricity business and the first step in that task is the privatization of electricity transmission system operator ADMIE which should start in late June.
PPC currently controls about 95 % of Greek retail electricity market, but according to the bailout agreement, the company has to reduced its share to below 50 % by 2020. One of the terms is the the sale of 24 % stake in ADMIE, which is currently fully owned by PPC.
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Tags: ADMIE, electricity, Greece, PPC, privatization, Tender