In September 2022, the Italian giant in natural gas distribution networks Italgas signed with the management of TAIPED the purchase and sale agreement of the DEPA Infrastructure group.
It was preceded a year ago in the same month by his declaration as a preferred investor in the sales tender by submitting an improved offer which in total amounted to 733 million euros.
This buying and selling was to continue with several controversies. And Italians, generally in the business arena, are according to market watchers, tough nuts…
The controversies of the Italians…
It is no coincidence that they tried to block the transfer when the ERA tried to set terms and conditions as the competent regulatory authority for infrastructure and the energy market so that the Italians neither transfer after a reasonable period of time DEPA Infrastructure nor reduce the number of employees.
…with TAIPED…
Another more serious dispute was between TAIPED and Italgas when the latter argued that it did not find the image presented to it before the sale of the group. He even claimed 160 million euros. Finally, the two sides appealed to Arbitration and the amount was significantly reduced. At 20 million euros. The Greek government paid for them.
…with the Greek management…
They invaded with the same momentum when they took over the management of the group and its subsidiaries Gas Distribution Companies, uprooting… the previous managements without keeping a single Greek at the helm of the companies.
… and with RAAEF
There was controversy again a few months ago with RAAEF when the Italian administration claimed a WACC return on the regulated asset base of close to 10%. The regulator lowered it to just over 8%.
Mr. Paolo Gallo
Greek journalists recalled these events during yesterday’s press conference of the CEO of the Italian group. Mr. Paolo Gallo, I should note that he visited Athens yesterday, accompanied by Italian journalists as part of the rebranding of DEPA Infrastructure.
And as if nothing had happened, he even invoked a lack of memory and said, especially with regard to the controversy with TAIPED: “This event is old. And it was settled. I don’t even remember what our differences were…” he said in response to questions.
And he saved the best for later. Announcing the unification of gas distribution tariffs in all regions of the country citing “reasons of social justice. This is what we also did in Sardinia and Southern Italy…”, he noted.
Mr. Kyriakos Mitsotakis
Why am I writing all this to you? Not to criticize the attitude of the Italian administration. In any case, they gave the highest price in the tender, as a result of which they succeeded in acquiring the entire DEPA Infrastructure. Anyway he found space and stirred up controversy and took things from what he claimed.
So, to return to the reason why I am writing you the above facts, I learned that the Prime Minister Mr. Kyriakos Mitsotakis was also invited to yesterday’s rebranding event.
Politely, as far as I can tell, he declined the invitation citing his various other government obligations.
They say that the behavior of the Italians disturbed the Maximus Palace. So for this reason the Prime Minister did not attend and instead the competent Ministers of Development Mr. Kostas Skrekas and Mr. Thodoros Skylakakis of Environment and Energy attended.
I think, how a little late the prime minister remembered to show his annoyance… If, of course, the information is true that he did not attend the event for this reason.
—-
Diligence!
In order for the Prime Minister Mr. Kyriakos Mitsotakis to give these benefits to the farmers – they called them “crumbs” themselves, but in any case… – someone and in some ways must collect the money. As is natural, this “job” is being supervised by the Minister of National Economy and Finance Mr. Kostis Hatzidakis!
From the POS
Do you remember that Mr. Hatzidakis had said that the proceeds from the “head tax” on freelancers would be used to strengthen the health system – which is going from good to better! Well, now the … flagship reform of the POS – their interface with the cash registers, I suspect that whatever it collects will probably go to the farmers – at least a significant part of it. And take into account the statement of Mr. Hatzidakis a few days ago that the 83 million euros that Mr. Mitsotakis announced to provide to the farmers – in case the roads are opened that is… – is outside the budget. That is, this money has not been budgeted for, so it must be found from somewhere….
Tax evasion
And because the project of connecting the POS with the cash registers has been reduced to a “milestone project” for our seamless financing of the country from the Recovery Fund, Mr. Hatzidakis has taken the issue upon himself. And for an additional reason. Because he calculates that from limiting tax evasion more and more he will have something… the Ministry of Finance also receives. It is an equally basic reason!
Until the “folks”
Thus, yesterday he had another meeting with institutions that span the entire “length and breadth” of the market. From representatives of department stores and non-food chain stores to representatives of mass markets. And between us he is not interested in branded chains – probably not at all! Their presence was typical – as far as the “folks” are concerned…
And fines
However, the deadline is February 29 for the interconnection. From the next day, the AADE will be issuing fines and will be stingy…
—
The Protergia
The ink did not quite dry on the ministerial decision to establish blue electricity tariffs with a fixed charge for a period of less than 12 months, and it was the first electricity provider to rush to take advantage of the provisions.
If one does a good search of the suppliers’ websites they will find Protergia by Mytilineos opening up the competition in this field.
So he announced and has a blue or fixed electricity tariff for six months with a price just under 0.10 euros/kWh. To be precise, it is at 0.0975 euros/kWh.
I’m learning what other supply players are getting ready to come out with such products.
Finally, the color on the invoices illuminated the competition…
#Mitsotakis #Italgas #coverup #benefits #farmers #POS #opening #electricity #competition #Protergia #Economic #Post
