Stathakis

The Energy Ministry has launched a last-ditch effort this week to present the European Commission with an alternative scenario to avert the threat of Public Power Corporation having to part with some of its hydroelectric plants.

The European Commission has sent Athens an ultimatum regarding the planned power interconnection between Greece's mainland electricity grid and the island of Crete and its funding by the Projects of Common Interest framework.

Tesla is proposing advanced technologies for power storage combined with the development of photovoltaic systems with the aim of enhancing the energy sufficiency of the Greek islands that are not connected to the grid.

The government has intervened to reduce labor costs at the Florina and Megalopoli power plants, just before the submission of binding bids for their sale. Its objective is to maintain investor interest and attract a price offer that will be approved by Public Power Corporation.

The government has granted troubled mining company Larco a lifeline at the expense of Public Power Corporation, ignoring the former's general problem of sustainability and the consequences not only for PPC but the Greek economy in general.

Energy Minister Giorgos Stathakis has floated the idea of the state retaining majority or even full control of the company to which Hellenic Petroleum (HELPE) will transfer the hydrocarbon surveying and utilization rights conceded to it.

The European Commission expects to see a political solution to the issue of the power interconnection of Crete with Attica next week.

Households' electricity rates may be about to rise again. According to Energy Minister Giorgos Stathakis, the major increase in the price of carbon emissions places a great burden on Public Power Corporation (PPC) that needs to be shared.

"Energy diplomacy" between Greece and the Former Yugoslav Republic of Macedonia (FYROM) is growing ahead of the crucial referendum in FYROM over its name change.

Major energy deals involving Greek and US interests were announced at Friday's American Hellenic Chamber of Commerce conference held in the context of this year's Thessaloniki International Fair, which officially opens on Saturday.