Link Securities | As reported on Friday by the digital newspaper Bolsamania.com, the Administrative Chamber of the Supreme Court (SC) has authorised the temporary closure of the combined cycle power plants of Palos de la Frontera 1 and 3, Cartagena group 2 and 3, and Sagunto group 3, under the terms contained in the application filed on 25 May 2017 by Naturgy (NTGY) with the Administration. However, the SC has rejected the request for compensation requested by the company.
As explained by the SC, this means that Naturgy’s appeal against the rejection by administrative silence of the request for the temporary closure of these plants for four years was partially upheld, alleging that, due to the low load factor, the plants had been affected with a much lower economic profitability than that necessary to recover the investment. However, the SC rejected Naturgy’s second claim, which sought recognition of its right to be compensated for the damages suffered as a result of having kept the five plants referred to in its appeal at the disposal of the electricity system, in the period between the date on which the Administration should have responded to its request for closure (25 May 2018) until the date on which the judgment that brings these proceedings to an end becomes final.
