Investor Relations - 30.08.2016

Update on electricity bill settlements

                                                                  Announcement

 

 With regard to the progress of electricity bills settlements PPC S.A. announces the following:

1.            Electricity bills settlements through the arrangement of 36 installments are progressing in a satisfactory way. Approximately 350,000 customers have settled total dues in the order of € 1 bln.

In addition, it is quite satisfactory that more than 90% of settlements is being honoured. 

2.            Based on the outstanding amount, customers break down as follows:

•             Less than € 500:                                5%

•             Between € 500 and € 1,000:        21%

•             Between € 1,000 and € 3,000:    36%

•             More than €  3,000:                      32%

out of the total of each category.

On the contrary:

•             1,230,000 customers with dues less than € 500 have not entered into settlement, with total dues amounting to € 146 mln.

•             298,000 customers with dues between € 500 and € 1,000 have not entered into settlement, with total dues amounting to € 153 mln.

·                 Customers with dues between € 1,000 and € 3,000, have entered into settlement at a higher percentage, which is 36%. In this category, customers who have not settled their dues amount 216,000, with total dues of € 278 mln.

·                Customers with dues more than € 3,000, have settled their bills at a percentage of 32%. Customers of this category who have not settled their dues amount to 89,000, with total dues of € 509 mln.

A high number of customers of the last two categories avoid systematically to pay their electricity bills.

It is obvious that dues of these categories and in particular of the latter ones are a top priority for PPC, without however neglecting the rest of them.

 

 

Athens, August 30, 2016

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