naturgas

2009/12/31

The Edp Group finalises purchase of Gas Natural’s gas distributors in Cantabria and Murcia, in addition to other assets, for 330 million euros

• The total assets acquired comprise 2,860 km of gas networks, 248,000 supply points, 11,000 GWh of gas carried, and 214,000 customers between gas and electricity, as well as 67,000 service contracts.
• As far as the Edp Group is concerned, this operation consolidates its position as the second gas distributor on the Spanish market, and increases its market share in supply points from 10% to 14%.
• Through this acquisition Edp is reasserting its position as one of the main gas and electricity operators on the Spanish market, with a portfolio of 1.4 million customers.

Barcelona. 31 December 2009. The Edp Group, which in Spain operates in the electricity and gas sectors through its subsidiaries HC Energía and Naturgas Energía, has today closed the deal it reached in July with Gas Natural on the acquisition, which amounts to an enterprise value of 330 million euros, of the low pressure gas distribution assets in Cantabria and Murcia, plus the home and SME marketing activity for gas, electricity and services in these communities (regions). The agreement also includes most of the high pressure distribution networks in the Basque Country, Cantabria and Asturias.

Joao Manso Neto, member of the Edp Group’s Executive Board of Directors, and Antonio Basolas, Director of Strategy and Development of Gas Natural, have signed and sealed the agreement in Barcelona today; it signifies the acquisition of

• Low pressure distribution networks in Cantabria and Murcia, which have 2,394 km of networks and 248,000 supply points handling 3,500 GWh per year of gas distributed.
• High pressure distribution networks in the Basque Country, Asturias and Cantabria with a total of 465 km of networks carrying 7,500 GWh of gas per year.
• A portfolio of 210,000 gas customers, 4,000 electricity ones and 67,000 energy service contracts.

This operation, which has been authorised by the National Commission for Competition (CNC) and the National Energy Commission (CNE) as well as by the autonomous community (regional) bodies concerned, consolidates the group’s position as one of the main energy operators –gas and electricity– in Spain.

Edp has a portfolio of 1.4 million gas and electricity customers and over 270,000 maintenance services with its own electricity and/or gas distribution networks in Aragon, Asturias, Cantabria, Castile-Leon, Catalonia, Valencian Community, Extremadura, Madrid, Murcia, Navarre and the Basque Country.

In gas, the group is the second distributor on the Spanish market with a market share of 14%. The Edp Group has over one million customers connected to its distribution networks in the Iberian Peninsula.

Through this agreement the Group is acquiring assets which have great potential for development, and is taking advantage of this unique opportunity for growth in a restricted market like that of gas distribution in Spain.