PORTUGUESE ELECTRICITY consumers paid 53 euros above the European Union average in 2007.
The discovery has led consumer rights campaigner and economist Eugénio Rosa to slam the monopoly electricity company EDP (Energias de Portugal) for making extraordinary profits, while making consumers pay through the nose.
Abel Mateus, the president of the Portuguese Competition Authority (Autoridade da Concorrência), who is an economist linked to the largest Portuguese general workers union, the CGTP, said that in 2007 “EDP had made extraordinary profits of 250 million euros, charging the Portuguese well over the European Union average.”
He said that prices were on average 21 per cent up on recent previous years and cited the European Union economic statistical unit, Eurostat.
However, Greece was even worse (up 114 per cent) while Finland, one of the richest and smallest countries in the EU in terms of population, was up 61 per cent.
The calculations did not, however, take into account production and pricing subsidies and special tariffs nor an overall deficit of 320 million euros.
It did not take into account the reckoning factor that Portugal was entirely dependent on oil and coal fired power stations, having no nuclear stations which are cheaper to run.
The economist slammed the Minister for the Economy, Manuel Pinho, for claiming that Portugal charged less taxes on electricity than the EU average, which he said was untrue.
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