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Showing posts from November 7, 2017

Greece seeks to recoup €2.4B in unpaid energy bills

The Greek Public Power Corporation (DEH) is planning to hire a consortium of eight companies in order to settle unpaid energy bills which currently add up to €2.4 billion ($2.7 billion). Greek media reported that within the consortium is included a company which specializes in debt collection management whose CEO is Orestis Tsakalotos, a relative of Greek Finance Minister Euclid Tsakalotos. DEH on Monday said the penalty for debtors who delay payment will rise to 7.25 percent of their total arrears while a six-percent penalty will be levied on bills which go unpaid by state entities. The budget for the proposal is €12 million ($13.8 million) and it is foreseen that the contractors’ remuneration will be set as a percentage of the debt collected. For struggling Greek consumers, the news is unwelcome. “There are no extra money to pay all [my] bills,” said Giorgos Papadakis, 68, while queuing in line at his local Public Power Corporation (PPC) branch in Athens to