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July 17, 2019
BUSINESS

PPC launches campaign to collect 1.05 billion euros in arrears

Public Power Corporation (PPC) on Monday announced it was launching a campaing to collect customers’ arrears, now totaling 1.05 billion euros.

The company is currently implementing an action seeking to collect 400-500 million euros from arrears by the end of the summer, Manolis Panagiotakis, chairman and CEO of PPC said on Monday.

PPC said arrears, including large industries totalled 2.7 billion euros, of which 1.05 billion was owed by 890,000 end customers. Of these end customers, 65,000-70,000 owe more than 3,000 euros each and a total of more than 700 million euros.

PPC will seek help from law offices to secure payment of arrears.

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