Regulator takes 120 million to EDP for consumers – Daily News – Lisbon

ERSE strengthened supervision to ensure that the company complies with the order established by the previous government to lower light prices

electricity consumers are likely to save € 120 million between 2016 and 2020, which will mean a decrease – or less rise – the rate of light when it is reviewed at the end of the year. An amount that goes directly from the EDP revenue. The company will still have to accommodate the costs of social tariffs, which the government wants to expand to one million families -. And that can end up being reflected in the account of other consumers (see fotolegenda)

At issue is a decision taken by the previous government after an investigation of the Regulatory Authority for energy Services (ERSE) to EDP, which identified serious imbalances in the market for buying and selling energy between 2010 and 2012 and “the possibility of being to be unfulfilled provisions of Law Competition “.

the order of the steps executive, signed by the Secretary of State for Energy Artur Trindade, requested an audit to check the extent of the imbalances and created two rules that EDP had to meet in order to avoid repeated. One fixed a limit to the price that you could ask for energy sold and was soon applied, allowing consumers would spare 50 million between May 2014 and the end of 2015. The other, which refers to the amount of energy on the market and that will save those 120 million estimated by the regulator, should begin to occur now, following the ERSE policy that is about to be published in the Official Gazette. This paper fills a gap in the regulations of ERSE and allows requiring EDP provide more detailed information about which plants are operating and the quantities that are being produced. What has not happened so far.

“ERSE decided to adopt a policy that enhances transparency and market surveillance contributing to the full realization of the order,” he said in a statement. The policy adds: “Failure to comply with established rules is subject to penalties in the energy sector.” . That is, if the EDP does not comply can be fined

EDP may have to return more

In addition to the 170 million – including 50 million less already occurred and the potential 120 million – consumers are likely to have more savings. Is that the imbalances identified by the regulator mean that EDP will make more money than I should, and as such, it would have to be returned, or slaughtered in rates.

we all happened in 2012 in the market national energy sales, which EDP puts the electricity produced in the dam and the coal and gas, both those with fixed incomes such as those governed by market prices. The regulator said in a statement have detected “a significant price developments, which took place in parallel with also significant increase in capacity.” That is, the EDP would be to charge more for the energy sold and know the DN / Money Vivo, would be to use more the plants that were in the market, thus gaining two sides: for they had fixed contracts and by who were in the market.

it is not yet official that EDP has had these practices, if there is money to return and, if so, how much will. This only know when completed independent audit requested by the government, which should happen soon. In November 2013, also following the investigation of ERSE, the Competition Authority recommended that the government review of EDP’s contracts “to understand that the existing regime entailed overcompensation of risks in the State aid awarded to the EDP.”