The state-run Public Power Corp. (PPC) on Tuesday reported 102.5 million euros in losses for 2015, compared to a net profit of 91.3 million euros in the previous year, as provisions for unpaid bills reached 950 million euros.
The listed power provider, which maintains a dominant position in the domestic market, said outstanding bills exceed two billion euros, if totalled since a stinging recession hit the country in 2010.
Beyond the crisis, PPC – known as DEI locally – also lost market share to a handful of upstart rival power producers, with sales falling 2.2 percent to 5.73 billion euros last year.
