EDP sells EUR 202 million of 2013's tariff deficit in Spain
HC, 99.87% owned by EDP Group, agreed today the sale of the rights to receive the deficit of revenues from the Spanish electricity system for the year of 2013. The total amount corresponding to HC's rights is of EUR 202 million.
Pursuant to the terms and for the purposes of article 248 of the Portuguese Securities code, EDP - Energias de Portugal SA ("EDP") is providing the following information to the market:
Hidroeléctrica del Cantabrico, S.A. ("HC"), 99.87% owned by EDP Group, agreed today, together with the remaining entitled entities (Endesa, S.A., EON España, S.L., Gas Natural SDG, S.A. and Iberdrola, S.A.), the sale of the rights to receive the deficit of revenues from the Spanish electricity system for the year of 2013. The total amount corresponding to HC's rights subject to the hereby mentioned transaction is of EUR 202 million.
This operation is sustained by the 18th additional provision of the Law 24/2013 for the electricity system, and the subsequent Royal Decree 1,054 of December 12th, 2014.
EDP – Energias de Portugal, S.A.
