The power generation companies in Greece for some time are struggling to pay their bills. This time the natural gas supplier DEPA has called enough is enough, pay up or else. It’s the last thing a struggling economy needs and hopefully disaster can be averted.

ATHENS (Reuters) – Greece’s power regulator RAE told Reuters on Friday it was calling an emergency meeting next week to avert a collapse of the debt-stricken country’s electricity and natural gas system.

“RAE is taking crisis initiatives throughout next week to avert the collapse of the natural gas and electricity system,” the regulator’s chief Nikos Vasilakos told Reuters.

RAE took the decision after receiving a letter from Greece’s natural gas company DEPA, which threatened to cut supplies to electricity producers if they failed to settle their arrears with the company.

Source: Reuters

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