EDP's CEO states that Portugal is on the right track in terms of energy transition, but points out some aspects that could be improved.
The CEO of EDP, Miguel Stilwell d’Andrade, believes that although Portugal has been doing “a good job” regarding the renewables strategy, there are some improvements to be made. The manager calls for “stable rules”, predictability in tenders and an acceleration in the implementation of projects, also stating that the Iberian gas price ceiling should be “contained in time”.
Miguel Stilwell d’Andrade spoke at the inauguration of the floating solar photovoltaic plant in Alqueva, which was also attended by Prime Minister António Costa and Environment Minister Duarte Cordeiro.
For EDP’s CEO, “stable rules” are needed for the energy transition process, as it is a long-term process. In this scope, Miguel Stilwell says although he recognises that “the marginalist model is not perfect” – the one on which the Iberian electricity wholesale market is based, where producers sell electricity to suppliers – he believes that interventions in this area, such as the Iberian mechanism that sets a ceiling for the price of gas used in the generation of electricity in Spain and Portugal, “may have interventions but they should be contained in time”.
In addition, The CEO indicated that if he “could predict in the coming years when there will be auctions, companies could better allocate resources.”