Investor Relations - 10.01.2017

Settlements programme and provision of incentives for the payment of electricity bills


With respect to the settlements programme and the provision of incentives for the payment of electricity bills, PPC announces the following:


1. Within the framework of the settlements programme of 36 installments without advance payment, which lasted for 9 months, 625,000 customers settled a total amount of € 1.3 bln (this amount includes charge for electricity and excludes third party amounts). Said amount corresponds to approximately 75% of the total amount due by Low and Medium Voltage customers.

2. For those customers, who will have a due amount less than € 500 as of 31.1.2017, the Board of Directors decided the suspension of payment of this debt until 31.12.2017 and the provision of a 10% discount in current bills, provided that they are being paid on time. This measure concerns approximately 1,150,000 customers with a total debt of approximately € 130 mln.  

3. For those customers, who entered into the 36 installments settlements programme but did not manage to meet its terms and as a result the settlement was terminated, they will be able to enter again into the programme with the current due amount, following a relevant application until 28.2.2017. 

4. Apart from the 15% discount which remains in place, associated of course with the consistent payment of electricity bills and of the relevant installments (if any), the following provisions will be in place, as of 10.1.2017, for small and medium size businesses and households: 

A. for due amounts less than € 1,000, the option for a settlement up to 24 installments without advance payment will be provided. The 1st installment will be paid immediately.

B. for due amounts more than € 1,000, two options will be provided:

1st: Immediate payment of 10% of the total due amount and settlement of the residual amount in 18 monthly installments or

2nd: Immediate payment of 20% of the total due amount and settlement of the residual amount in 36 monthly installments.

5. Finally, PPC’s Board of Directors decided to provide new incentives for consistently paying customers, with the provision of a 6% discount on top of the 15% discount, to these customers who will pay in advance electricity bills for one year as well as their overdue amounts, if any. The implementation of these new incentives starts immediately for large corporates, while for small and medium size businesses and households, it will start in March 2017. 


Athens, January 10, 2017


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