EDP, REN to receive 645 mln eur for 2006-2007 tariff deficit - report |
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Fri, 20 Apr 2007 07:25
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LISBON (Thomson Financial) - EDP Energias de Portugal SA and grid operator Redes Energeticas Nacionais will be entitled to receive 645 mln eur in compensation for tariff deficits in the Portuguese electric sector for 2006-2007, Jornal de Negocios reported citing a source at energy regulator ERSE.REN assumes two-thirds of the deficit, with the remaining assumed by EDP, the newspaper said, noting that for continental Portugal it stands at 472 mln eur, for the Madeira and Azores archipelagos the deficit is 173 mln eur.The deficit will be revised every year from 2008 to 2017, it said, noting that the revision will be made every year based on the Euribor rate in July of which year plus 0.5 percentage points. The measure will allow EDP and REN to securitise the deficit.The measure is contained in a proposal to offset the 2006-2007 electric tariff deficit, which will be in public consultation from today until May 25.luis.morais@thomson.comlm/jg/anCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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