ECONOMIC CONDITIONS

Offer valid until April 15th, 2020

ELECTRICITY SUPPLY PRICE

The price of the power charge and active energy charge will remain unchanged during 12 months, notwithstanding updates as per variations corresponding to the CPI(1) on 1 January of each year while the contract is valid.

(1) CPI: actual accrued value, for the November-to-November period before the application of the variation, of the general Consumer Price Index published by the Spanish National Institute of Statistics.

Any upwards or downwards variations in the access rates and tolls, fees and the regulated items that the government approves for application during the term of the contract will be applied, based on Royal Decree 1164/2001 and Order ETU/1976/2016.

Subscription to Plan 3.0 is only available for the 3.0A access tariff.

The energy will be billed as the product obtained by multiplying the price of each period by the consumption in the corresponding period.

The power will be billed as the product obtained by multiplying the daily power charges by the contracted power, and multiplying the result by the number of days in the billing period. The daily power charges are obtained by dividing the annual power charge by the number of days in the year. If the demand power exceeds the contracted power by 105% during any time period, the power to be billed for this period will be the registered value plus twice the difference between the registered value and the value corresponding to 105% of the contracted power.

Reactive energy and any additional items to charge will be billed in accordance with the pertinent legislation in force approved by the administration.

METER RENTAL PRICE

The monthly rental price for the electricity metre will be established by the Ministry of Energy, Tourism and Digital Agenda for the corresponding access tariff and charged by the Distribution Company. VAT(*) will be added to this price, which will appear on the bills issued to the customer. Customers may consult current prices at www.iberdrola.es.

CONTRACT DURATION

The duration of this contract is 12 months from the supply start date.

The supply start date shall be later than the date of acceptance of this contract and will be conditional on the existence of an access contract with the distribution company, the availability of the electricity and any work to be carried out on the installations, where necessary. The supply start date shall be the first day of the stipulated metering period indicated on the first bill.

The contract may be extended for annual periods in accordance with the General Conditions.

(*)The applicable tax rate will be the currently valid rate and will be specified and broken down on the bill. VAT is not applied in the Canary Islands, Ceuta and Melilla, where the special tax system applied, respectively, is the IGIC (Canary Islands Special Indirect Tax) and the IPSI (Tax on Production, Services and Imports).