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State lends money to EDIA to pay electricity bills

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EDIA is one of the main government electricity customers.

EDIA is one of the main government electricity customers.

EDIA – Empresa de Desenvolvimento e Infra-Estrutturas do Alqueva – is the largest public consumer of electricity and one of the largest consumers in the country. The company’s electricity bills will rise to 38 million euros this year, a significant increase, more than three times the 2021 value.

Due to increased costs, EDIA had to take out a loan from the state. “On December 26, 2022, a medium and long-term loan in the amount of EUR 13,822,146.00 was concluded between EDIA-Empresa de Desenvolvimento e Infra-Estruturas do Alqueva, SA and the State of Portugal, intended to meet the financial needs of the company. namely, to cover the cost of electricity, ”says a statement sent to CMVM.

In other words, the state provided EDIA with a loan of 13.8 million euros to cover electricity costs.

EDIA’s annual consumption is about 250 GWh, equivalent to about 100,000 homes, mostly served by high and medium voltage.

Empty tenders and expensive electricity. Large government customers enter into short-term contracts, and individual entrepreneurs allow a return to a regulated tariff

The company had a contract with Endesa worth 21 million euros that ended in August for the supply of energy, signing another with the same company for 10 million euros to have electricity before the end of the year. For 2023, EDIA opened a tender for the supply of electricity, but the company acknowledged that it could be cancelled.

Source: Observador

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