PPC is not a viable company, McKinsey report shows

Greece's Public Power Corporation (PPC) is not viable and will need to take specific steps to restore its position, the McKinsey consulting group warned in a report to the company detailing the state of the company's finances.

McKinsey's five-year plan, revealed by Kathimerini, proposes that PPC improves its operational profits by 500 million euros over the five-year period, for which it will have to adopt a voluntary retirement plan for 2,000 employees and an increase in pricing, starting with the gradual reduction of PPC's current discounts and the imposition of increases on specific customer categories.

The most economically competitive technology in the coming years will be the renewable energy sources (RES), as construction costs for new capacity are being reduced, McKinsey points out, and calls on PPC to increase its RES production capacity by 2.5 GW by 2030...