What's in the bill for the "small electrical company?"

By reading between the lines of the new bill for the electrical company one could reasonably wonder if the government sells to make a profit or to unload it under conditions that are questioned. "With the bill, which began to be debated in the House yesterday, further privatization is promoted with the opening of the electricity market" is the main argument of the government to privatize the company, while the project involves the creation of a new company, 100% subsidiary of the electrical company, in which 30% of the capacity of the company and its clientele will be assigned. The little electrical company will be available through an international tender to private investors. So far so good, but several questions occur after the strategy pursued by the government isn't aggressive, as it should within low market values, because it's just trying to get rid of it at any cost.

Let's take the steps one by one:

1. Subsidiary Electrical Company
The bill stated: "It provides for the creation of a new company, 100% subsidiary, in which 30% of the capacity of the Company and its clientele will be assigned".

2. Unloading the subsidiary then
"The little electrical company will go through an international tender to private investors".

3. The unloaded subsidiary will be given free fuel

"With the sale of a company, for the first time the possibility of third party access to cheap electricity mix (lignite and water) will be achieved and will create the foundations of effective competition in both the production and trafficking". This means the wealth of hydroelectric projects (huge dams etc), which were paid by taxes from Greek people is given free to a private company of unknown origin and unknown interests.

Also in the project and revenues of the new company of foreign interests, huge lignite reserves of the country with invaluable value will also be given free. "According to what the bill provides, a total power capacity 2.768 MW will be contributed. Of these, 1.380 MW lignite from both Amyntaiou units (600 MW), the unit Melite 1 (330 MW) and the production license Melite 2 (450 MW). The 903 MW are from hydro and assembly of the river, the hydroelectric power station Pournari 1 and 2 and from the small hydroelectric power plants and Agras Edessian, while 485 MW from the gas unit of Komotini".

4. Mines will be donated or sold at a price?
The bill generally refers vaguely that the new company takes the mines. Obviously the conditions will be set after, as done usually in poor countries. "In regards of the mines, the new company gets the one in Amindeon, including the ones in Lakkia, Kleidiou and Komnino, also the hills Melitis and Vevi".

5. Amazing originality... customers are transferred to a foreign company The transferred clientele to a company a sovereign interest is done without asking the consumers. "In regards of the clientele of the new company, the bill provides 30% of electricity supply contracts without the consent of clients will be transferred proportionally".

6. The success story in all its glory
The electrical company for six months will not be able to move aggressively towards solicitation against the private company. Commonly, the private company will get the time, in order for the entire electrical company to be sold out the entire PPC. Admittedly, a brilliant plan. "The new company will supply its customers in accordance with the conditions laid down for 4 months, while the electrical company for 6 months will not be eligible to aggressive policy to re-attract customers".

7. Unknown fate of customers
With unknown procedures, the customers must decide if they will go to the new company, while it is certain that the famous social sensitivity of the old electrical company will go strolling, which means that whoever owes will not have current! "The supply contracts will be allocated to the new company and will be determined by resolution of the Board of the electrical company, which will rely on expert study. We will consider all types of costumers and aspects of economic behavior".

8. What's left in the old electrical company?
The "difficult" and unprofitable pieces such as islands will stay in the old electrical company. The new company will take the easy jobs that bring quick money. "Besides allocation will remain consumers of non-interconnected islands".

9. Government's commitment to workers
This may be the shortest joke in the whole story, because despite the commitments of political power, they have never ensured the rights of workers. Besides, the bill states that the government is committed to universal succession to the obligations of electrical company over workers and not for all the workers. As simple as that. "The government, following generalized reactions from unionists, opposition and local communities committed to the deposit editorial improvements that will ensure universal succession of all existing obligations over workers, pension funds and local communities and by the new company".

10. The government is... committed
The commitment of the government to have no end, both for farmers and for local communities, bnt the text says that it's "allegedly committed", as it would be a... little pregnant. "Ensuring the right of farmers to irrigate from hydropower plants will be transferred to a private buyer of the little electrical company. The government allegedly committed to extending the return charge to local societies and to the small electrical company with the transfer of taxes from renewable sources and private mines. which now goes to the State from local communities".

11. Lots of money
The irony of the story is that the announcement that the amount to be raised by the sale will be used to pay the debts of the old electrical company. The paltry consideration will be given with the share of electricity to a minimum and will be used to save the old company. We're talking about excellent inspiration: "Revenues from the sale of the new company will be transferred in their entirety to the electrical company and will be used to implement the investment program and reduce its debt".