Greek and Portuguese differences in 10y #risk free and their #transmission & #distribution #tariffs, #ROIC on #RAB

It worths to notice the newly suggested -by the Portuguese regulator- 2015-ROIC Port. on transmission and distribution electricity business which is 6,4% and 6,75% accordingly. For Greece the relevant returns for 2014 where 2014-ROIC Greece 8,5% and 8% accordingly.
That means a spread of 1,25% up to 2,1% for related transmission return and now compare it with the mtm risk free spread of the 2 countries which is 4,41%. The difference is huge and cannot be explained by the ’15 ’14 inflation actually deflation) not even by the mtm difference.
Remains to see the proposal of the Greek RAE.

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Mention that these are my personal views and do not represent anyone’s official position

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