The Brazilian electricity regulator, ANEEL, approved a 26.54% annual tariff readjustment index for EDP Escelsa, for the period from August 7th 2014 to August 6th 2015.

Within the annual tariff readjustment process, ANEEL takes into consideration the variation in the costs of the sector companies in the preceding 12 months. The formula includes controllable costs (Parcel B), which are adjusted by inflation (IGP-M index), weighted by the X Factor, and non- controllable costs (Parcel A), such as electricity purchased from generators, sector charges, inspection fees and transmission charges (energy transportation fee), as well as financial adjustments recognized by ANEEL in the Parcel A Items Variation Compensation Account (CVA) and other financial adjustments.

The X-Factor, from this tariff readjustment was set at 2.34%, being the components "Pd" (gains of productivity): 0.99%, "T" (trajectory to adequacy of operational costs): 1.68% and "Q" (incentives to quality): -0.33%. The "Q" component of the X-Factor is the recognition for the improvement in quality of the company compared the previous year.
 
EDP – Energias de Portugal, S.A.