The Court of Auditors gives the “green light” to the new CTT concession contract

The Court of Auditors (TdC) has exempted CTT from the obligation to obtain a visa for its new concession contract, so that the new rules will come into force immediately, the postal company announced in a press release to the Commission on Sunday. of the securities market (CMVM). .

“CTT – Correios de Portugal, SA informs that, following the declaration of visa exemption by the Court of Auditors, the new concession contract which designates CTT as supplier of the universal postal service (UPS) has entered into force. This step marks the conclusion of this process, as announced to the market on February 7, 2022,” reads the short statement to CMVM.

The February 7 announcement included the publication in “Diário da República” of the new rules, although the entry into force of the new contract depends on the approval of the TdC or the visa waiver by this entity.

The new concession contract will run for seven years, until December 31, 2028, including a first transition period – which will take place in 2022 – followed by two three-year periods.

The criteria for setting prices will be defined by agreement between the CTT, Anacom and the General Directorate of Consumers for periods of three years and failing agreement, the Government will define the criteria.

According to CTT, under the new contract, “the formation of prices must take into account the sustainability and the economic and financial viability of the supply of UPS, as well as the variation in traffic, the variation in related costs, the quality of the service rendered and the incentive to provide
effective universal service”.

The company also indicates that the quality criteria are now approved by the government on Anacom’s proposal, also for periods of three years, “following a set of clear guidelines”. Among them, “ensure high levels of quality of service in line with the best practices in force in the European Union and the relative importance of the postal services which make up the universal service”.

In addition, according to CTT, “the current indicators will remain until the definition of new indicators and the respective performance objectives” and “in the event of non-compliance with the new quality indicators, the sanction to be applied by the Government will result in investment or price review obligations, in accordance with the principles of proportionality, adequacy, non-discrimination and transparency”.

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