edp announcement

EDP sells EUR 574 million of tariff deficit in Portugal

Monday, 27 March 2017

EDP agreed, through six individual non-recourse transactions, the sale of EUR 250 million of the 2015 tariff deficit, and the sale of EUR 324 million of the 2017 tariff deficit, related with special regime generation.

Pursuant to the terms and for the purposes of the article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council and of article 248 of the Portuguese Securities code, EDP - Energias de Portugal, S.A. ("EDP") is providing the following information to the market:

 

EDP Serviço Universal, S.A. ("EDP SU"), the last resort supplier of the Portuguese electricity system, 100% owned by EDP Group, agreed, through six individual non-recourse transactions, the sale of EUR 250 million of the 2015 tariff deficit, and the sale of EUR 324 million of the 2017 tariff deficit, related with special regime generation.

 

The 2015 tariff deficit resulted from the 5-year deferral of the recovery of the 2015 overcost with the acquisition of energy from special regime generation (including adjustments for 2013 and 2014).

 

The 2017 tariff deficit resulted from the 5-year deferral of the recovery of the 2017 overcost with the acquisition of energy from special regime generation (including adjustments for 2015 and 2016).

 

EDP – Energias de Portugal, S.A.