Greece to Privatise Power Grid Operator to Back Island Tourism

Greece to Privatise Power Grid Operator to Back Island Tourism

The Greek parliament approved legislation to privatise 66% of grid operator ADMIE, seeking to attract investment and secure the energy supply of tourist destinations such as Santorini and Crete, Reuters reported.
ADMIE's sale is required by European Union energy laws, under which grid operators should be stand-alone entities.
ADMIE's sale is expected to take place later this year.
ADMIE's buyer will run a regulated business with a fixed rate of return to recoup its investment.

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