THE EUROPEAN Commission has authorised the Greek government to pay the part-privatised Public Power Corporation of Greece up to Euro 1.431 billion in compensation for so-called 'stranded costs,' liabilities incurred when the Greek energy market was regulated and publicly controlled.

It has since been liberalised under European Union (EU) directives and the Greek government has sold shares in the corporation. However, to prepare it for full competition from other EU players, Greece has been allowed to liberate the corporation from ...

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