Salary increases of 9% for 2024 and 7+7% for 2025 and 2026 are provided for in the new three-year Collective Labor Agreement signed by the management of ADMIE with the GENOP/PPC-KIE and the Primary Trade Unions.

The ESSE was signed on behalf of the Administrator by the President and CEO Manos Manousakis and on behalf of GENOP/PPC-KIE the President Antonis Karras and the General Secretary Kostas Maniatis.

As indicated in the relevant announcement:

The third consecutive Operational Collective Labor Agreement signed by ADMIE after the change in its share composition, ensures significant wage increases and establishes a series of benefits and allowances for all employees.

In particular, the new ESSE foresees wage increases of 9% for 2024, which amount to a total of 4 million euros, with retroactive effect from January 1. In addition, further pay scale increases of 7% are foreseen from 1 January 2025. The increases come on top of the period of high inflation that preceded it. Also, increases of 7% are foreseen from January 1, 2026.

Among other things, new special permits based on the legislative regulations are also incorporated and all the benefits and special allowances agreed by the previous Collective Labor Agreements are codified.

At the signing of the new ESSE, the President and CEO of ADMIE Manos Manousakis, said: “The signing of the new Collective Labor Agreement proves the disposition of the two major shareholders of the company for labor peace and safety. Responding to the new conditions and the increased cost of living, with the new ESSE we protect labor rights and ensure significantly higher wage increases compared to previous collective agreements. The new ESCE also incorporates essential innovations, such as the Gender Equality policy, with which we will comprehensively manage these critical issues. As management, we fully recognize that the employees are the ones who will bring about the transformation of ADMIE, that is why we will continue to strive for the continuous improvement of working conditions. We also express our thanks to the negotiation committees of GENOP/PPC-KIE and ADMIE for this very good result”.

Referring to the digitalization plan for the maintenance of ADMIE’s Transmission System, Mr. Manousakis clarified that labor rights will not be affected by the technological development that must be adopted in order for the company to continue its leading role in the international energy market. “We will move to a new way of maintaining the system, without losing jobs or reducing wages, using our human resources in a more efficient and intelligent way,” he noted.

The President of GENOP/PPC-KIE, Antonis Karras, said: “I am honored to be at ADMIE to sign yet another collective labor agreement, which is still a request for many organizations and DEKO. The new Collective Agreement is probably the best we have signed in the last 10 years, improving all the previous ones even more. And this considering that ADMIE is now a company that is constantly developing, has a much larger size compared to the past and plays an active role in the Balkans and the Eastern Mediterranean. Congratulations to the management and also to the employees, who stand by the company for the implementation of all these major energy projects”.