No progress in energy-related issues was reported on Tuesday, during the first day of resumed negotiations between top Greek government ministers and representatives of institutional creditors.
No progress in energy-related issues was reported on Tuesday, during the first day of resumed negotiations between top Greek government ministers and representatives of institutional creditors.
According to reports, both sides merely tabled their respective positions and arguments.
The creditors, previously known as the "troika" and now the "quartet", have long demanded a greater liberalization in Greece's state-smothered energy sector, with the IMF particularly adamant over the need for lower prices and higher competition in the crisis-battered country.
Economy Minister Giorgos Stathakis led the Greek side in talks, making only a very brief statement afterwards, namely, that "work needs to be done" so another meeting is held on Friday between his team and creditors' representatives.
In terms of specific demands, a new international tender for the privatization of the natgas operator (DES.FA) and a review of the first-ever NOME power auctions in Greece will apparently dominate negotiations. Additionally, creditors want the state-run Public Power Corp.'s (PPC) share of the retail market slashed in favor of private sector providers - a long-standing memorandum obligation.
In terms of the NOME auctions, the latter are viewed as a "transitional measure" to pry open the electricity market from PPC's all-encompassing embrace. If judged unsuccessful, "structural interventions" that include the sale of specific power generation units cannot be ruled out.