Brief: Ence Informs On Impact Of New Renewable Energy Regulation

ENCE Energia y Celulosa SA

04/06/2024 12:21

June 4 (Reuters) - Ence Energia y Celulosa SA  ENC.MC :
    * ON 4 JUNE MINISTRY FOR ECOLOGICAL TRANSITION AND
DEMOGRAPHIC
CHALLENGE (MITECO) APPROVED NEW METHODOLOGY FOR UPDATING
REMUNERATION FOR OPERATION (RO) OF BIOMASS ELECTRICITY
GENERATION PLANTS
    * ESTIMATES THAT APPLICATION OF NEW METHODOLOGY WILL HAVE
POSITIVE
IMPACT OF UP TO 62 MILLION EUROS ON CASH GENERATION IN 2024
    * EXPECTS ITS IMPLEMENTATION TO RESULT IN DOWNWARD REVENUE
ADJUSTMENT OF AN ESTIMATED 9 MILLION EUROS IN Q1, WHICH WILL BE
REFLECTED IN Q2 RESULTS

Source text for Eikon:  ID:nCNM1wV404 
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