EDP sells Portuguese tariff deficit and adjustments for €0.9 billion
Lisbon, December 19th 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, 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 €0.7 billion of the 2025 tariff deficit.
This tariff deficit resulted from the 4-year deferral of the recovery of the additional cost to be incurred by SU in 2025, including the adjustments from the 2 previous years (2023 and 2024), in connection with the purchase of electricity from generators that benefit from guaranteed remuneration schemes or other subsidized schemes.
Separately, E-REDES – Distribuição de Eletricidade, S.A., 100% owned by EDP, agreed the non-recourse sale of the entire 2023 definitive adjustment related to the electricity distribution and to the purchase and sale of access to the transmission network activities; as well as of the 2024 provisional adjustment related to sustainability or tariff containment measures of the national electricity system and to the activity of purchase and sale of the access to the transmission network, in the total amount of €0.15 billion.
EDP, S.A.