The Board of Directors of PPC S.A. in its meeting of 28.09.2011 approved the signing of an agreement for submitting the billing terms of ALUMINIUM S.A. to arbitration to the Regulatory Authority for Energy, under the precondition that, until the issuance of the Arbitration Decision, ALUMINIUM S.A. will continue to be billed and pay for electricity consumption (along with all legal charged and levies) for the total of 8,760 hours on an annual basis, according to the provisions of the Framework Agreement dated 4.8.2010, that is for the 4,710 hours within the minimum load demand zone, (including Saturdays, Sundays and holidays), as well as for the remaining 4.050 hours of the transitional period. For the submission to arbitration the agreement needs to be signed also by ALUMINIUM S.A.
It is noted that on 28.09.2011, ALUMINIUM S.A. deposited to PPC two cheques with a total value of €25,624,027.88 in relation to amounts due for various charges and levies included in the electricity bills, such as the Special Consumption Tax, the Renewables Levy, the Custom Authorities Levy, the Network Charges, the Capacity Assurance Mechanism Charges, Public Service Obligations (PSOs), etc.
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