PPC SA announces the implementation of a new commercial policy for Low and Medium Voltage customers. Specifically the new tariff policy includes:
A. A new Corporate Tariff with competitive charges for large companies and groups with a large number of different points of sale all over Greece, effective as of September 1st, 2015.
B. Expansion of the existing competitive tariffs for large commercial and industrial companies with annual consumption over 13GWh to customers with annual consumptions over 10 GWh as well as reduction of the remaining tariffs for this customer category, effective as of October 1st, 2015.
C. Reduction of the tariff for commercial and industrial customers with capacity over 25KVA, effective as of October 1st, 2015.
D. Reward program for residential customers who pay their bills on time by refunding double the value of the fixed charge of every actual bill, within 2016 to all customers that have fully paid on time their actual bills of the year 2015. Therefore the Company will refund approximately €30 million on an annual basis to those customers who pay on time.
The total cost of this new commercial and tariff policy is estimated to amount to €80 million and aims at providing competitive tariffs to corporate and commercial customers and to reward residential customers who make on-time payments. The Company expects that such actions, given the economic conditions, will have a significant positive impact on the improvement of the collections and as a result on the cash flows and the liquidity of the Company.
Athens, August 28, 2015