The recent decision of the administration board to exclude the participation of the Greek state in the imminent increase in DEI’s equity through public offer entails the state’s loss of the 51% majority and control of the company. In this way the government accomplishes its goal of the full privatization of the country’s energy sector, after the recent concession of the electricity and natural gas networks to private capital owners.
We claim the non-privatization of DEI on the following grounds:
• DEI is the largest industry of the country and the dominant player in the energy sector. It is a public company of strategic importance for the exercise by the state of an active development, social and environmental policy and for the accomplishment of a just energy transition of the economy, the only sustainable way to tackle the climate crisis.
• The public control of DEI is necessary in order to prevent uncontrolled increases in electricity prices for households and firms. It is the only guarantee against energy poverty and in favour of the protection of the poorest households and small and medium enterprises, especially under the current global energy crisis that threatens with the skyrocketing of energy prices.
Moreover, in a context of energy crisis throughout Europe, privatization is a mistaken policy. Indeed, far from having reduced the cost of energy, privatization has, on the contrary, made it more expensive.
Thus, public ownership of energy becomes an emergency to meet the basic needs of the population but also to initiate the energy transition necessary to combat global warming.
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November 2, 2021
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