CEPSA AGREES TO SELL ITS RESIDENTIAL ELECTRICITY AND GAS CUSTOMER PORTFOLIO TO PODO

The operation is part of the asset review the company is conducting to focus on the most strategic businesses
Cepsa will continue to supply electricity from renewable sources and gas to industries and companies, a business that represents 97% of total commercialization in this field.
Customers will maintain the same conditions for a minimum of 6 months and the electricity will continue to be from renewable sources
Cepsa has reached an agreement to transfer its portfolio of residential electricity and gas customers to Podo, an operation that is part of the asset review the company is conducting to focus on the most strategic businesses. Cepsa is currently defining a renewed, ambitious long-term strategy to be presented in the next few months. This new plan will address the challenges of the energy transition and drive the company’s transformation and growth. In this particular market, the company will drive development of renewable energy sources and refocus the commercialization of gas and electricity on industrial customers.

Cepsa will always continue to supply 100% renewable electricity and gas to industries and companies, a business that represents more than 97% of total commercialization of this field.

The transfer of the portfolio (around 75,000 contracts), which already has the appropriate regulatory approvals, will take place over the next few months. Customers will maintain the conditions for electricity and gas supply and maintenance for a minimum of 6 months, in addition to discounts with the Porque TU Vuelves card. Additionally, the electricity supplied will continue to be 100% renewable.

Podo is a company specialized in commercialization of electricity and gas to residential customers throughout Spain with digital, simple, and transparent service. Since its foundation in 2016, it has been known for its commitment to the environment by supplying electricity exclusively from renewable sources.