The Council of State has recently ruled against the privatisation of the public water company EYDAP as it oversteps constitutional provisions regarding the state’s duty towards public health, cancelling as such the coalition government’s plans to convert water companies into private entities.

The ruling specifically underlined the uncertainty to be created regarding the provision of affordable public utilities and quality services, since a private entity’s main objective is to generate profit, hence privatisation fund TAIPED will likely be forced to return the controlling shares of the water companies back to thee State. TAIPED owns 74.017% of the public water company of Thessaloniki (EYATH) and until recently it owned 61.33% of the water company in Attica as well. As recently announced, TAIPED cancelled the transfer of 34% of EYDAP shares, reducing its shares to 27.3% and it will probably have to return about 50% of EYATH shares to the State.