Greek Recession, Unemployment and Expensive Electricity Bills Will Cause DEI to Collapse

Greek Recession, Unemployment and Expensive Electricity Bills Will Cause DEI to Collapse

deiThe Public Power Corporation S.A Hellas (DEI) could not escape the tragic reality that the majority of Greek enterprises and households face every day.  There is a deficit in DEI’s revenue due to unpaid bills, which reaches the amount of 1.3 billion euros. This amount is increasing every day by 4 million euros.

The majority of those who cannot afford to pay the electricity bills are Greek households and small Greek enterprises, as Kathimerini reports. In other words, the percentage of unpaid bills that corresponds to the Greek households is 65 percent.

The public sector owes DEI an amount that reaches 190 million euros. The medium-sized businesses have unpaid bills that are estimated at approximately 130 million euros, while Larco owes DEI more than 135 million euros.

Indicative of this tragic situation is that the number of the consumers who have made the relevant application in order to regulate their debts to DEI over their phone, is huge. Settling unpaid bills by a simple phone call is a new service that DEI provides its consumers with. Those who have already regulated their debts with a simple phone call are more than 700,000 consumers.

Those who wish to regulate unpaid bills to DEI, can do so by calling 11770.

  • TediUSA

    Is there a Greek owned company/institution that is not in the red?IKA is underfunded by 8 billion too.

  • The Truth is…

    The government can tackle the problem by implementing changes that haven’t been implemented to open the job market, changing the taxation system to attract investors and to sustain political stability for the country to prosper.

  • user

    But not everywhere else in the world are people’s electricity bills so artificially high as in Greece. Electricity bills have increased by 40% not because of production costs or anything else, merely because it’s a way to raise taxes. Letting people live in the dark and freeze to pay artificially high taxes seems counterproductive to me. Oh by the way, the gas and electricity imported to Greece is the 2nd most expensive among all other European countries. How can Greeks improve productivity when they are systematically disadvantaged by high costs for business? You know how the systematic disadvantage comes from? From austerity measures which require tax increases. Essentially, austerity is not about improving the Greek economy (like the Troika advertises), but rather make sure they get all their money back while the common man is smashed to the ground. Everyone knows mistakes were made in the past, but it’s better to plan for the future rather than to pay back money that cannot be paid back. Troika’s days are numbered in Greece. If the Troika insists on their policies, they will certainly backfire by a revolution. The common Greek has followed the recipe for 4 years now. It cannot continue for another 4 years. In that case, Greece could have defaulted 4 years ago and would have recovered quicker than this long drawn out process. So yes, electricity is a commodity Greeks are entitled at NORMAL charges, not what they are currently charged.

  • WorldFixer

    Just more Crimes from this corrupt Gov’t of Thieves & Liars and they should stop the 23% extra tax and Samaras & Venizelos should bothl be impeached and arrested for HIGH TREASON!

  • TediUSA

    When someone can not afford something,it will not use it-end of story.Sure Troika wants its money back-wouldn’t you?Nobody promised Greece FREE gifts-these are LOANS to repay!!!

  • user

    Basically youre huge flaw is the assumption that these companies are part of a “free market”. You clearly couldn’t comprehend the first couple words of the articles stating, “PUBLIC Power Corporation”. It’s government run, thus turning a profit is not it’s primary function. Also, sure the Troika wants its money back, but they are also there to help the Greek economy. Eventually the Troika has to choose whether to take losses on their money but invest in a more prosperous Greece, or to keep trying to get their money but expect to get thrown out of Greece from a revolution. I don’t see both happening. Also, I find it HILARIOUS you blame Greece about wasting your tax money. More than anything you should blame the Troika and the bailout they themselves created. They basically privatized profits, and socialized the debt. If the Troika just let the PRIVATE banks in Germany and France take the losses on their Greek debt holdings, then the European taxpayer would have zero burden right now. But the troika didn’t do that because those German and French banks would have collapsed if that happened back in 2010, they were not ready for it, no firewalls prepared. Instead, the Troika gave the European taxpayer the burden, and then blackmailed Greece. I know you love capitalism and the free market, so you can NOT DENY these PRIVATE banks in France and Germany should NOT have been bailed out. In a free-market economy, these private banks MADE THEIR OWN CHOICE to buy Greek debt. Therefore, it is THEIR RESPONSIBILITY to take the hit when their risky business practices failed, as they did when creating a bubble in Greece. But instead, they pushed the debt onto the common European taxpayer, and told you guys to go blame Greece. Essentially their denying the whole practice of the free-market. They are complete hypocrites, and you’re not too bright yourself. The USA didn’t bailout out Lehman Brother and then tell American taxpayers to blame the ones Lehman Brothers did business with. Instead, the USA allowed them to collapse. The troika should have done the same.

  • TediUSA

    Greece is not France,Germany and not the US.It is a bankrupt ,tiny Balkan country living off the productive countries wealth.The Public Power Corporation as a Greeek socialistic enterprise might not be working for profit but with the Greek state being flat BROKE,how long do you think the Greeks can continue getting free electricity?A-ha! We don’t really care about any revolutions in Greece,to be honest.We just want our 440 billion back and that’s all we care about.Get over yourself.