Monday, 11 June 2012 19:58

Greek Blackouts Risked as Power Companies’ Cash Runs Out

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"Regulators will meet with Greece’s power market operator as early as today to discuss an emergency loan of 300 million euros ($375 million) to cover payments for gas imports from Russia’s OAO Gazprom (GAZP), Turkey’s Botas AS and Italy’s Eni SpA. (ENI) The country’s largest power producer is almost out of money and likely to default after unpaid accounts jumped more than 50 percent in a year, according to Standard & Poor’s."

-- Right on cue. -- Jenna Orkin

Bloomberg article

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