Bloco de Esquerda seeks inquiry into Azores fuel oil costs

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The Bloco de Esquerda political party has submitted a request to the Portuguese parliament to hold hearings with the Energy Services Regulatory Entity (ERSE) and the Açores Electricity Company (EDA). The inquiry focuses on the costs associated with acquiring fuel oil for electricity production in the Azores.

Central to the request is an approximately 8.5 million euro compensation transfer from ERSE to EDA in 2025 to cover fuel oil overcosts. This decision was reportedly conditional on implementing measures to increase market competition and diversify market agents. The Bloco de Esquerda highlighted a potential conflict of interest, noting that BENCOM, a company within the Bensaude Group, is currently the sole fuel oil supplier to EDA and also holds a 39% stake in EDA.

According to the party, EDA recorded 8.9 million euros in losses in 2025 due to fuel oil costs not recognized by the regulator. ERSE has reportedly decided to compensate 95% of this amount through the 2026 tariff, provided competition-enhancing measures are demonstrated.