Public Power Corporation S.A. in Greece Re-states Interest Rate Policy for clarity
It is reported by 104fm radio in Aghios Nikolaos that the PPC’s Board (controlling authority of DEH ) – the electric company, has dispelled any notion of across-the-board interest rises on monies owed to the company.
PPC is quoted by 104fm as stating (incl. google translation):
– The interest rate is not raised for debts that have been or are in the process of being settled. That means the interest rate remains at the statutory set level of 5.25%.
– There is however for the first time, for fresh debt (late payment?), a new statutory interest rate of 6%.
– For past due debts of clients who do not come to settle them however, a 7.25% interest rate is required by law to be levied.
I am to assume that the percentages quoted are per annum.