|Bid||1.879 x 130000|
|Ask||1.921 x 130000|
|Day's Range||1.836 - 1.836|
|52 Week Range||1.731 - 4.665|
|PE Ratio (TTM)||17.16|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Greece has agreed to sell coal-fired plants and coal mines equal to about 40 percent of its dominant power utility Public Power Corp's coal-fired capacity, to help open up its electricity market, the energy ministry said on Tuesday. Under the rescue deal signed up in 2015, the third since 2010, Greece has agreed to cut the dominance of its state-owned Public Power Corp in the retail market to below 50 percent by 2019 from about 90 percent now. Last year Greece launched power sales to smaller power producers to help cut Public Power Corp's share.
Kostas Argyros's unpaid electricity bills are piling up, among a mountain of debt owed to Greece's biggest power utility. The Argyros family are emblematic of deepening poverty in Greece following seven years of austerity demanded by the country's international creditors. Five-watt lightbulbs provide a dim glow and Argyros worries about the effect on their eyesight.
Shareholders of Greece's power utility Public Power Corp. (PPC) approved on Tuesday the transfer of a 51-percent stake in the power grid operator ADMIE, part of a spin-off scheme, which is a major term in Greece's bailout programme. Under a legislated scheme aiming at keeping ADMIE under state control, PPC will sell a 24-percent stake to China's State Grid for 320 million euros ($340 million) and set up a special vehicle to transfer a cost-free 51-percent stake to the state and existing private shareholders. "The extraordinary PPC shareholders meeting approved the procedures in order to conclude ADMIE's spin-off," the energy ministry said in a statement.