EDP - Energias de Portugal, S.A. informs: ERSE announces electricity tariffs for 2022 and parameters for 2022-2025
December 15, 2021 at 05:39 pm EST
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ERSE ANNOUNCES ELECTRICITY TARIFFS FOR 2022 AND PARAMETERS FOR 2022-2025
Lisbon, December 15th, 2021: The Portuguese Electricity Regulator ("ERSE") released today the final document regarding the Tariffs and prices for electricity in 2022 and the parameters for the regulatory period 2022-25 in Portugal. The final document introduces the following changes, when compared to the proposal presented by ERSE on last October 15th, and disclosed to the market by EDP - Energias de Portugal, S.A. ("EDP"):
The regulated gross profit for the activity of electricity distribution (operated by our subsidiary E-Redes) increased ~€15m, to €1,029 million for 2022 (excluding previous year adjustments), essentially due to the increase of the preliminary rate of return ("RoR") which was set at 4.7%, before taxes, from the proposed 4.3%.
The rate in the period 2022-25 will be set for year t, according to the daily average of the 10 year Portuguese government bond yield between October of year t-1 and September of year t - this mechanism foresees a floor and a cap of 4% and 7.3%, respectively. Note that the preliminary RoR of 4.7% reflects an underlying average of 0.302% for the 10 year Portuguese government bond yield and that each 1% change in Portuguese government bond yield implies a 0.3% change in the RoR.
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phone +351 21 001 2834 ir@edp.com
EDP - Energias de Portugal, S.A. Sociedade Aberta Sede: Av. 24 de Julho, 12 1249-300 Lisboa Portugal
NIPC e Matrícula CRC Lisboa 500697256 Capital Social: € 3 965 681 012
This information is disclosed pursuant to the terms and for the purposes of the article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council and of article 248-A of the Portuguese Securities code.
EDP - Energias de Portugal. S.A.
EDP - Energias de Portugal, S.A. Public Company Head Office: Av. 24 de Julho, 12 1249-300 Lisboa Portugal
Share Capital € 3 656 537 715 Registered at the Commercial Registry Office of Lisbon under no. 500697256 Company Tax Number 500697256
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EDP - Energias de Portugal SA published this content on 15 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 December 2021 22:38:14 UTC.
EDP - Energias de Portugal, S.A. is one of the leading producers and distributors in Portugal. The activity is organized around 4 sectors:
- production, sales and distribution of electricity: hydroelectric, thermoelectric, wind, co-generated, and biomass-based;
- supply of energy services: primarily engineering and consulting services for the construction and installation of thermoelectric and hydroelectric units;
- sales and distribution of gas (No. 2 in Portugal);
- other: steam production, supply of computer services, etc.
Net sales are distributed geographically as follows: Portugal
EDP - ENERGIAS DE PORTUGAL, S.A. 
