edp announcement

EDP Sells Portuguese Tariff Deficit for €0.3 Billion

Monday 28, December 2020

Lisbon, December 28th, 2020: 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 15.5% of the 2021 tariff deficit, related with special regime generation, for a total amount of €271 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.