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EDP Energias de Portugal S A : Operating Data Preview 9M21

10/14/2021 | 01:32pm

Operating Data Preview 9M21

Lisbon, October 14th, 2021

KEY HIGHLIGHTS

  • Renewables represented 76% of electricity generated by EDP in the 9M21. Wind generation increased +4% YoY, mainly driven by Europe and Brazil, as a result of higher installed capacity and resource. Hydro production pro-forma in Iberia (10.8 TWh in 9M20, exlcuding the impact from the 1.7 GW disposal of 6 hydro plants in Portugal) increased by 5% YoY.
  • During 9M21, hydro generation coefficient, in Portugal, was 14% above historical average, while Brazil is witnessing a historically dry season, which translated into an 8% YoY decrease in the Brazilian hydro production output. Overall, wind load factor was 28%, a slight reduction YoY.
  • Since the beginning of the year, +1.2 GW (EBITDA + Eq. MW) of wind and solar of gross capacity were added to the portfolio and by the end of Sep-21,we had 2.7 GW of capacity under construction. Following the successful completion of the Asset Rotation deal in the US (80% stake of a 405 MW wind portfolio), net additions ascended to +0.8 GW.
  • Overall, the installed capacity (EBITDA) decreased -2.4GW mainly due to the disposal of the 2 CCGT plants in Spain (0.8 GW) and 6 hydro plants in Portugal (1.7 GW) and the shutdown of Sines coal plant (1.2 GW), all in 2020.
  • Electricity distributed in Portugal increased +1% in the 9M21, justified by the recovery of the industry and services sector. The decrease in temperatures mainly in July 2021 vs July 2020 is the main cause for the slowdown in electricity distribution growth in the 3Q21. In Spain, the no. of clients connected has more than doubled in 9M21, reflecting the acquisition of Viesgo in Dec-20. In Brazil, electricity distribution rose by +8% YoY, also as a result of the economic recovery.
  • In the supply business, in Iberia, electricity volume sold slightly increased YoY, despite the significant decline on the number of clients of -20% YoY, mainly explained by the disposal, in 2020, of our retail B2C energy supply activities, in Spain. On Gas, volumes sold decreased 30% YoY, also as a consequence of the disposal of the retail B2C energy supply activities.
  • The average electricity spot price for the 9M21 reached €78.5/MWh, following the sharp increase in 3Q21, that registered an average spot price of €117.8/MWh.

INSTALLED CAPACITY

Installed capacity | Sep-21

EBITDA MW

1%

8%

12%

2.7%

24.4 GW 47%

29%

79%

Renewables

Wind

Hydro

Solar

Gas

Coal

Other

ELECTRICITY GENERATION

Capacity evolution | YoY

EBITDA MW

(1)

  1. Acquisition of Viesgo hydro power plants in Spain

Capacity under construction | Sep-21

2,654 MW (1)

  1. Includes equity participations in offshore.

MW

Sep-21

Sep-20

%

Wind

11,620

10,842

+777

+7%

North America

6,207

6,045

+162

+3%

Europe

4,977

4,467

+511

+11%

Brazil

436

331

+105

+32%

Hydro

7,127

8,785

-1,658

-19%

Iberia (1)

5,527

7,186

-1,658

-23%

Brazil

1,599

1,599

Solar

648

145

+503

+347%

North America

362

90

+272

+301%

Europe

55

55

Brazil and other

232

+232

Gas Iberia

2,886

3,729

-843

-23%

Coal

1,970

3,150

-1,180

-37%

Iberia

1,250

2,430

-1,180

-49%

Brazil

720

720

Other (2)

178

198

-19

-10%

EBITDA MW

24,429

26,849

-2,420

-9%

Equity MW

1,342

1,121

+221

+20%

EBITDA + Equity MW

25,771

27,970

-2,200

-8%

(1) Includes small-hydro;(2) Nuclear, Cogeneration & Waste.

Electricity generation | 9M21

2%

12%

10%

43 TWh

49%

1.1%

26%

76%

Renewables

Wind

Hydro

Solar

Gas

Coal

Other

LOAD FACTORS

GWh

9M21

9M20

%

Wind

20,971

20,135

+836

+4%

North America

11,952

12,249

-296

-2%

Europe

7,815

7,102

+713

+10%

Brazil

1,204

785

+419

+53%

Hydro

11,296

13,556

-2,260

-17%

Iberia(1)

7,655

9,600

-1,945

-20%

Brazil

3,641

3,956

-315

-8%

Solar

491

220

+271

+123%

North America

412

154

258

+168%

Europe

64

65

-1

-2%

Brazil and other

14

0

+14

Gas Iberia

4,367

7,816

-3,449

-44%

Coal

4,964

3,156

+1,808

+57%

Iberia

2,494

2,637

-144

-5%

Brazil

2,470

519

+1,951

+376%

Other (2)

952

1,006

-54

-5%

Total

43,041

45,890

-2,849

-6%

(1) Includes small-hydro;(2) Nuclear, Cogeneration & Waste.

3Q21

3Q20

%

5,865

5,612

+253

+5%

3,066

3,135

-69

-2%

2,089

2,080

+9

+0%

710

397

+313

+79%

2,507

2,479

+28

+1%

1,494

1,651

-156

-9%

1,012

829

+184

+22%

260

79

+180

+227%

220

54

165

+304%

25

25

+1

+3%

14

0

+14

1,790

3,864

-2,074

-54%

2,326

1,475

+851

+58%

986

1,433

-

-31%

1,341

43

+1,298

369

389

-20

-5%

13,117

13,899

-782

-6%

W&S Production deviation vs. exp. LT

Hydro resources deviation vs.

avg. Gross Capacity Factor | 9M21 vs

historical avg. | 9M21 vs 9M20

9M20

13%

-5%

-5%

9M21

9M20

-3%

9M21

9M20

GCF - Gross Capacity Factor

Load factors

9M21

9M20

3Q21

3Q20

Wind

28%

29%

23%

24%

North America

30%

32%

23%

24%

Europe

25%

25%

20%

22%

Brazil

41%

36%

55%

54%

Hydro

Iberia(1)

21%

20%

12%

10%

Brazil

35%

38%

29%

23%

Solar

27%

23%

31%

25%

North America

30%

26%

32%

27%

Europe

18%

18%

21%

20%

Gas Iberia

23%

32%

28%

47%

Coal

Iberia

30%

17%

36%

27%

Brazil

52%

11%

84%

3%

Other(2)

82%

77%

94%

89%

(1) Includes small-hydro;(2) Nuclear, Cogen. & Waste.

Investor Relations Department

Phone: +351 21 001 28 34

Email: ir@edp.com

www.edp.com

Operating Data Preview 9M21

Lisbon, October 14th, 2021

ENERGY SUPPLY

Volumes of electricity supplied in Iberia - Liberalized | 9M21

Volumes supplied (GWh)

No. of Clients (th)

9M21

9M20

%

3Q21

3Q20

%

Sep-21

Sep-20

%

29%

Electricity

Iberia

22,717

22,662

+0.2%

7,732

7,579

+2.0%

4,951

6,208

-20.2%

Portugal Liberalized

12,962

12,640

+2.6%

4,231

4,202

+0.7%

4,013

4,065

-1.3%

21 TWh

Portugal Regulated

1,696

1,767

-4.0%

490

543

-9.9%

915

983

-6.8%

Spain

8,060

8,255

-2.4%

3,011

2,833

+6.3%

22

1,160

-98.1%

71%

Gas

6,131

8,764

-30.0%

1,538

1,953

-21.2%

687

1,591

-56.8%

Portugal Liberalized

3,176

3,014

+5.4%

822

936

-12.2%

650

653

-0.4%

Business Residential

Portugal Regulated

126

137

-7.8%

15

28

-45.9%

32

35

-7.9%

Spain

2,828

5,613

-49.6%

701

988

-29.1%

5

903

-99.5%

ELECTRICITY DISTRIBUTION

Iberia

9M21

9M20

%

Electricity distributed (GWh)

47,186

41,148

+6,039

+14.7%

Portugal(1)

36,091

35,627

+465

+1.3%

Spain

11,095

5,521

+5,574

+101.0%

Customers connected (th)

7,703

6,976

+727

+10.4%

Portugal

6,329

6,306

+23

+0.4%

Spain

1,375

670

+704

+105%

  1. Electricity volume that entered the distribution grid.

Brazil

9M21

9M20

%

Electricity distributed (GWh)

19,501

18,048

+1,453

+8.0%

Final customers

10,214

9,921

+292

+2.9%

Access customers

9,287

8,127

+1,160

+14.3%

Customers connected (th)

3,651

3,574

+77

+2.2%

EDP São Paulo

2,005

1,967

+38

+2.0%

EDP Espírito Santo

1,645

1,607

+39

+2.4%

MARKET INDICATORS

Iberian market

9M21

9M20

%

Average electricity spot price - Spain

€/MWh

78.5

31.9

+146%

Hydro coefficient - Portugal

1.0 = avg. Year

1.13

0.97

16%

Hydro coefficient - Spain

1.0 = avg. Year

1.00

1.00

0%

Wind coefficient - Portugal

1.0 = avg. Year

0.98

0.89

10%

Brazilian market

Average spot price (PLD)

R$/MWh

328

118

177%

Generation Scalling Factor (GSF) (1)

%

80%

85%

-5%

Exchange rates

EUR/USD - Average

1.20

1.13

-6%

EUR/BRL - Average

6.38

5.70

-11%

EUR/USD - End of period

1.16

1.17

1%

EUR/BRL - End of period

6.26

6.63

6%

(1) Weighted average

KEY ANNOUNCEMENTS

01-Jul-2021

Results and pricing of the cash tender offers for outstanding debt instruments

12-Jul-2021

EDP/2020 - Fixed to Reset Rate Subordinated Notes due 2080 - 2nd Coupon Interest Payment

20-Jul-2021

EDP sells Portuguese tariff deficit for €503 million

21-Jul-2021

Asset rotation deal for 221 MW wind portfolio

21-Jul-2021

EDP enters the UK onshore market with a 544MW Wind and Solar portfolio

26-Jul-2021

EDP/2021 - Fixed to Reset Rate Subordinated Notes due 2081 - 1st Coupon Interest Payment

27-Jul-2021

EDP secures 25-year PPA for a 200 MWac solar project in the US

04-Aug-2021

EDP signs asset rotation deal of a 149 MW wind portfolio for an EV of €303 million

06-Sep-2021

EDP prices EUR 1,250 million subordinated green notes

07-Sep-2021

EDP is awarded with PPA for 120 MW wind project at the Chilean renewable auction

08-Sep-2021

EDP announces upsize to 80% stake of the 405 MW Asset Rotation in the US

16-Sep-2021

EDP secures a PPA for 127.5 MW of solar and wind capacity in Spain

20-Sep-2021

EDP secures a 15-year PPA for a 297 MW wind project in Canada

9M21 RESULTS RELEASE

EDP's 9M21 results will be released on November 4th, 2021. A conference call will be hosted by EDP's CEO, Mr. Miguel Stilwell d'Andrade and EDP's CFO, Mr. Rui Teixeira, the day after, at 11:30 GMT. More information will be available on www.edp.com.

Investor Relations Department

Phone: +351 21 001 28 34

Email: ir@edp.com

www.edp.com

Disclaimer

EDP - Energias de Portugal SA published this content on 14 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 October 2021 17:31:01 UTC.

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