|Client||Government of Portugal|
|Service(s)||Policy & Economics, Regulation & Competition|
CEPA provided advice to the Government of Portugal in relation to the cost of capital for power generation backed by Power Purchase Agreements with the national transmission company. Advice was provided following a request from the ‘Troika’ (EU, ECB, IMF) to analyse rates of return in the power sector. CEPA’s advice focused on the cost of capital over time for the relevant asset classes and for different time horizons.