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)
- Acquisition of Viesgo hydro power plants in Spain
Capacity under construction | Sep-21
2,654 MW (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 | -447 | -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% |
- 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 onwww.edp.com.
Investor Relations Department | Phone: +351 21 001 28 34 | Email: ir@edp.com | www.edp.com |
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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.