EDP sells Portuguese tariff deficit for €0.1 billion
Lisbon, February 28th, 2024: Pursuant to the terms and for the purposes of article 17 of Regulation (EU) No 596/2014 of the European Parliament and of the Council, EDP - Energias de Portugal, S.A. (“EDP”) is providing the following information to the market:
SU ELETRICIDADE, S.A. (“SU”), the last resort supplier of the Portuguese electricity system, 100% owned by EDP, agreed the non-recourse sale of 5.2% of the 2024 tariff deficit, for a total amount of €0.1 billion.
This tariff deficit resulted from the 5-year deferral of the recovery of the additional cost to be incurred by SU in 2024, including the adjustments from the 2 previous years (2022 and 2023), in connection with the purchase of electricity from generators that benefit from guaranteed remuneration schemes or other subsidized schemes.
EDP – Energias de Portugal, S.A.