EDP sells Portuguese tariff deficit for €503 million
EDP sells Portuguese tariff deficit for €503 million
Lisbon, July 20th, 2021:Pursuant to the terms and for the purposes of articles 17 and 248-A of the Portuguese Securities Code and of the CMVM Regulation no. 5/2008, 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, through five individual transactions, the non-recourse sale of 28.8% of the 2021 tariff deficit, related with special regime generation, for a total amount of €503 million.
This tariff deficit results from the 5-year deferral of the recovery of the 2021 overcost with the acquisition of energy from special regime generation (including adjustments for 2019 and 2020).
EDP – Energias de Portugal, S.A.