The Portuguese regulator ("ERSE") announced the revision of the Portuguese electricity sector regulation in order to reflect change imposed by law nº 12/2008, on February 26th, and approved by Portuguese Parliament. This law determines the prohibition to collect any kind of payment regarding hire, amortization or periodic inspections of meters and that the invoice should have a monthly periodicity.

Following these changes, in the next tariff revision and with retroactive effects from the date of entrance of the law nº 12/2008 (May 26th, 2008), the regulated asset base related to the meters (€111 million) will be withdraw from allowed revenues calculation in the electricity distribution activity. EDP estimates that this measure will have a negative impact of 1.2% in the 2008 allowed revenues of distribution and regulated supply activities and €19 million in 2008 EBITDA.

In the preparation of the new regulatory period between 2009-2011, EDP will continue to study solutions which may allow to smooth the impact of the measures now announced.


EDP - Energias de Portugal, S.A.