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vertically integrated undertaking

as defined in Directive (EU) 2019/944 of the European Parliament and of the Council of 5 June…, Article 2, point (53) (Definitions)

an electricity undertaking or a group of electricity undertakings where the same person or the same persons are entitled, directly or indirectly, to exercise control, and where the undertaking or group of undertakings performs at least one of the functions of transmission or distribution, and at least one of the functions of generation or supply;

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