EC approves Greek Financing of Hellenic Post

The European Commission approves Greek financing of ELTA for transitory period (2013-2015) for universal postal service; opens in-depth investigation for 2016-2020

The European Commission has found direct subsidies granted by Greece to the state-owned postal incumbent Hellenic Post (ELTA) for the delivery of the universal service during a two-year or three-year transitory period (from 2013 until 2014 or 2015) to be in line with EU state aid rules.

The Commission has concluded in particular that the grants only compensate ELTA for the extra costs of carrying out public service obligations. However, the Commission has concerns that the compensation fund mechanism to be established for the following five-year period may unduly favour ELTA over competitors in the areas where the universal service applies and has therefore opened an in-depth investigation. The opening of an in-depth investigation gives Member States and interested parties an opportunity to submit comments and does not prejudge the result.