a stake to the ‘strategic’ investor, the sale of stock
through the Athens Stock Exchange, and up to
10% of IPTO’s EBITDA on an annual basis and
up to the full repayment of the specified price.
“The final agreement on IPTO is the result of a
painstaking and thorough negotiation, which
adheres to the government’s firm decision to
ensure public control over the Power
Transmission Grid, in contrast with the previous
—and legislated—option to privatise IPTO by
conceding almost 66% of its stock.
“Share ownership in the new IPTO corresponds
to the existing share ownership of the PPC,
where the state also holds 51%.
“The agreement is fully conducive to enhancing
competition in the energy market and ensuring
the security of the electricity system.
“The Greek government is committed to support
the PPC, in order to help the company carry out,
smoothly and without incurring any shock, the
process of unbundling the transmission network.
“In any case, both the PPC and the IPTO will
keep on carrying out their important work, within a
changing energy market that moves towards a
new operating model, in accordance with
European regulations.
“The main objectives of the government’s energy
policy are energy sufficiency and cost reduction,
especially for vulnerable social classes, since ener-
gy is a key ingredient of every growth process”
stresses the leadership of the Environment and
Energy Ministry.
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