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EDPFY Energias De Portugal SA (PK)

33.11
0.59 (1.81%)
03 Jan 2025 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Energias De Portugal SA (PK) USOTC:EDPFY OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.59 1.81% 33.11 32.34 33.61 33.19 32.904 32.92 132,850 22:00:02

EDP to Book Around EUR100 Million in 2020 Due to Shutdown of Coal Plants -- Update

14/07/2020 10:53am

Dow Jones News


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--EDP anticipates an extraordinary cost of around EUR100 million in 2020 due to the closure of coal plants in Iberia

--The decision takes into account the deterioration of market conditions that occurred in 1H

 

By Giulia Petroni

 

EDP-Energias de Portugal SA said Tuesday that it expects to book costs of around 100 million euros ($113.5 million) before taxes this year following a decision to shut down its coal power plants in the Iberia region.

The Portuguese energy company said the decision takes into account the continuing deterioration of market conditions for these plants in the first half of the year.

In December, EDP had already assessed the lower competitiveness of coal plants in the region due to the higher cost of carbon dioxide emissions, lower gas prices, and the planned faster pace of growth of renewable installed capacity.

EDP added that it is developing projects related to the energy transition in the regions where the coal plants are located.

In Portugal, the company has submitted a generation license waiver for the Sines power plant to be effective in January 2021 and is developing a project to produce green hydrogen at the site.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

July 14, 2020 05:38 ET (09:38 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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