ATHENS Feb 15 The European Union's competition
authority on Tuesday raided Greece's power utility PPC
and the headquarters of the country's power grid operator ADMIE,
two sources said on Wednesday.
According to media reports, the raid came after complaints
that PPC, 51 percent owned by the state, had violated
competition rules over wholesale power prices.
"A mission of (EU's) Directorate-General for Competition
visited PPC and ADMIE's offices yesterday," a Greek energy
ministry official told Reuters on condition of anonymity.
An official at ADMIE, which is fully owned by PPC, confirmed
PPC, a former monopoly, was not immediately available for
Under a plan to reform its energy market, a key condition of
Greece's international bailout, the country has to spin off
ADMIE from PPC by the end of March or fully privatise the grid.
PPC has agreed to sell a stake in ADMIE to China's State Grid
Athens also needs to cut PPC's share in the retail market to
below 50 percent by 2020 from about 90 percent.
Greece last year launched power auctions to open up the
market but it has been at odds with its international lenders
over the effectiveness of the scheme.
Smaller power producers have also criticised the auctions,
suggesting that PPC might need to divest some of its units for
the market to open, a plan that the government has strongly
(Reporting by Angeliki Koutantou. Editing by Jane Merriman)