ADMIE cash must reach RES producers

The 622 million euros that Public Power Corporation (PPC) has collected from the sale of the Independent Power Transmission Operator (ADMIE) will not remain in its coffers for long, since its total obligations to suppliers, contractors, market entities and others exceed 1.8 billion euros.

Its creditors are already queueing up, with the renewable energy source (RES) producers first in line waiting for PPC to start covering at least part of its debts to ADMIE and the Hellenic Electricity Distribution Network Operator (DEDDIE), so that the former PPC subsidiaries can in turn pay off their 800-million-euro debt to the Electricity Market Operator (LAGIE), destined for the accounts of RES producers.

In April and May LAGIE filed lawsuits seeking the payment of 655 million euros in expired debts, of which 512 million concern funds - destined for the RES producers - that...