Brussels, 23/09/2004 (Agence Europe) - On 22 September the Commission today decided not to raise objections to the State refunding three Portuguese energy providers, EDP, Tejo Energia, Turbogás for so-called “stranded costs”. In the case at issue, stranded costs arise because old power plants built prior to February 1997 - i.e. prior to liberalisation -- will not be sufficiently efficient to be able to face a competitive electricity market.
As Portugal opens its electricity markets to...