ANNOUNCEMENT
PPC S.A. announces that following the opinion issued by the Regulatory Authority for Energy and the relevant decision of the Ministry of Environment, Energy and Climatic Change, the new tariffs for the medium and low voltage customers were approved and will be effective from January 1st, 2011.
According to the new tariffs, there will be:
- A reduction of 20% to 30% for 1,200,000 households which belong to vulnerable social groups and
have the option to apply for the Social Residential Tariff, effective for the first time as of January 1st, 2011.
- A reduction of 17% to 3% of the average price for electricity for 1.500.000 small and medium enterprises.
- Stability in the average price for 2,500,000 households with consumption of 800 - 2000 kWh.
- The agricultural tariff remains the lowest of existing tariffs, despite the 6% increase.
- An increase of 11% in the customer category of 0- 800 kWh, which represents an average extra charge of
€5.5 for every four months.
In total, Greek consumers (households and enterprises) will pay in the order of €140 mln less in 2011 for the same amount of electricity consumption compared to 2010 (without taking into account the charges for the Radio & Television company, the municipalities and the VAT increase). The aforementioned amount is reduced to €37 mln if we account for the increase of the VAT to 13% from 11%.
Regarding PPC's revenues, the implementation of the new tariffs on 2010 electricity consumption, will have a negative impact in the range of €50 mln.
Athens, December 29, 2010.