Electricity prices cause first short circuit in Portugal – O Jornal Económico
Trading company HEN is the first victim of high electricity prices on the Iberian wholesale market. The company’s 3,900 customers will be provided by the last resource supplier, the company
“This decision aims to ensure the regularity and continuity of the right to HEN’s customers, which
found conditions to meet to continue its activity “, according to the statement released today by the
ERSE-Energy Services Regulatory Authority.
The regulator says that “it has been formally notified that the supplier HEN – Serviços Energéticos, Lda. is no longer able to guarantee the supply to its customers, due to non-compliance with obligations arising from its operations in the electricity market”.
In this way, “ERSE determined that the CUR will ensure the regular supply of around 3,900 customers of the supplier HEN – Serviços Energéticos, Lda. without any disturbance and without the need to take any action”.
The regulator explains that these customers will be able to choose another supplier under the market regime at any time.
“ERSE recommends that customers of the supplier HEN – Serviços Energéticos, Lda. On the other hand, the reading of the consumption that is reported from their respective meter through the means provided by the distribution network operator, namely by telephone number 800 507 507 , toll free. This ensures that customer billing is adjusted and more rigorous. The tariff prices charged by the Last Resort Trader are observed by ERSE and are also available at www.sueletricidade.pt ”.
ERSE announced new measures on 1 October to minimize the effect of wholesale prices on the energy market.
“This unprecedented rise in prices and high volatility has an impact on the activity of most agents in the sector, in particular suppliers who ensure, through their specific activity, the connection between the wholesale and retail benchmarks of the market of energy”, said the regulator led by Pedro Verdelho on 1 October.
Among the measures envisaged was precisely “a controlled and minimally programmed exit of market suppliers for which their operation is rapidly reduced or there is no economic viability of their operation, avoiding the operational breakdown resulting from insolvencies, in themselves potentiating a systemic damage to the remaining market operators”.
The measures also include “access, by the most exposed suppliers, to complementary mechanisms to cover the supply price risks in the commercialization of electricity, through an integrated energy resource by renewable producers, through a simplified mandatory mechanism, which thus contributes to limiting losses operational and business diversity”.