EDP sells Portuguese tariff deficit for €0.8 Billion
EDP sells Portuguese tariff deficit for €0.8 Billion
Lisbon, March 9th, 2020: EDP Serviço Universal, S.A. (“EDP SU”), the last resort supplier of the Portuguese electricity system, 100% owned by EDP – Energias de Portugal, S.A. (“EDP”), agreed, through five individual transactions, the non-recourse sale of 70.6% of the 2020 tariff deficit, related with special regime generation, for a total amount of €825 million.
This tariff deficit results from the 5-year deferral of the recovery of the 2020 overcost with the acquisition of energy from special regime generation (including adjustments for 2018 and 2019).
This information is disclosed 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-A of the Portuguese Securities code.
EDP – Energias de Portugal. S.A.