edp announcement

EDP sells EUR 200 million of tariff deficit in Portugal

Monday, 16 June 2014

EDP Serviço Universal, S.A., the last resort supplier of the Portuguese electricity system, 100% owned by EDP Group, agreed today the sale of a portion of EUR 200 million, and the respective interest, of the 2014 tariff deficit related with special regime generation.

Under the terms and for the purposes of article 248 of the Securities Code, EDP – Energias de Portugal, S.A. ("EDP") hereby discloses the following information to the market and to the public in general:

EDP Serviço Universal, S.A. ("EDP SU"), the last resort supplier of the Portuguese electricity system, 100% owned by EDP Group, agreed today the sale of a portion of EUR 200 million, and the respective interest, of the 2014 tariff deficit related with special regime generation.

This tariff deficit resulted from the 5-year deferral of the recovery of the 2014 overcost with the acquisition of energy from special regime generation (including adjustments for 2012 and 2013).
With this transaction, during the year 2014, EDP sold aproximatelly €1.0 billion of Portuguese tariff deficits.

EDP – Energias de Portugal, S.A.