Comment on press article regarding unpaid bills
Concerning a press article mentioning that “PPC is not taking actions for the payment of overdue receivables from unpaid electricity bills amounting to € 1.3 bln”, it is noted that, as also mentioned in the presentation of the Chairman and CEO of PPC (slide 17) during the conference call with analysts held on May, 29, after the announcement of 1Q 2012 financial results, overdue receivables – excluding bill settlements via installments- decreased, as of end of April to € 629 mln in Low Voltage (from € 763 mln as of end of March) following the increase of the power cuts rate since March (25,256 power cuts compared to 6,978 in January and 8,152 in February), which led to an improvement in the collection rate of bills.
Regarding the total of the customers, the amount of overdue receivables - excluding bill settlements via installments – decreased to € 1,009 mln. as of end of April (from € 1,167 mln as of end of March).
The relevant presentation is available on PPC’s website (http://www.dei.gr/Default.aspx?id=59366&nt=18&lang=2).
Athens, May 31, 2012