Operating Data Preview 2021
Lisbon, January 20th, 2022
KEY HIGHLIGHTS
- Renewables represented 75% of EDP's electricity generated in 2021. Wind generation increased +5% YoY, mainly driven by Europe and Brazil, as a result of higher installed capacity. On the other hand, Hydro output decreased significantly mainly due to the 1.7 GW disposal of 6 hydro plants in Portugal in Dec-2020, which contributed with 3.4 TWh generation in 2020. Excluding this impact, Hydro production in Iberia decreased by 1% YoY, mainly due to a weak hydro production in 4Q21 (hydro generation coefficient in 4Q21 was 57% below historical average).
- During 2021, hydro generation coefficient, in Portugal, was 7% below historical average. Brazil witnessed a historically dry season, reverted in 4Q21, maintaining the load factor in line with 2020. The improvement in hydro situation in Brazil resulted in the interruption of coal generation, that did not produce since mid-Dec-21. Overall, wind load factor was 30%, in line with 2020, 4% below GCF long term average, following the recovery of renewable resource in 4Q21 to 3% below LT average (4% above LT avg. in Europe in 4Q21).
- Since the beginning of the year, +2.3 GW (EBITDA + Eq. MW) of wind and solar of gross capacity were added to the portfolio and by the end of Dec-21,we had 1.8 GW of capacity under construction. Following the successful completion of the Asset Rotation deals in the US and Portugal, net capacity additions amounted to +1.4 GW (EBITDA + Equity GW).
- Electricity distributed volumes in Portugal increased +1% in the 2021. In Spain, the 87% increase in electricity distributed is mainly justified by the acquisition of Viesgo in Dec-20.In Brazil, electricity distribution rose by +6% YoY, also as a result of the economic recovery.
- In the supply business, in Iberia, electricity volume sold increased 2% YoY, supported by the growth of volumes sold to business clients in Spain, namely in 4Q21. On Gas, volumes sold decreased 30% YoY, following the disposal of the residentials energy supply activities in Spain in Dec-20.
- The average electricity spot price for 2021 reached €111.9/MWh, following the sharp increase in 2021, in particular in 4Q21 that registered an average spot price of €211.1/MWh.
INSTALLED CAPACITY
Installed capacity | Dec-21
EBITDA MW (1)
1%
8%
12%
2%
24.7 GW 48%
29%
80% | |||||
Renewables | |||||
Wind | Hydro | Solar | |||
Gas | Coal | Other |
- Does not include 401 MW of Installed capacity and 162 MW of Under construction capacity as of Dec-21 relating to Sunseap acquisition
ELECTRICITY GENERATION
Capacity evolution | YoY
EBITDA MW
(1)
- The YoY variation considers the decommissioning of the original 151MW related to Blue Canyon II Repowering
Capacity under construction | Dec-21 1,824 MW (2)
- Includes equity participations in offshore
MW | Dec-21 | Dec-20 | % | ||
Wind | 11,845 | 11,155 | +690 | +6% | |
North America | 6,079 | 6,005 | +74 | +1% | |
Europe | 5,175 | 4,714 | +461 | +10% | |
Brazil | 591 | 436 | +156 | +36% | |
Hydro | 7,127 | 7,127 | |||
Iberia (1) | 5,527 | 5,527 | |||
Brazil | 1,599 | 1,599 | |||
Solar | 645 | 345 | +300 | +87% | |
North America | 358 | 290 | +68 | +23% | |
Europe | 55 | 55 | |||
Brazil and other | 232 | +232 | |||
Gas Iberia | 2,886 | 2,886 | |||
Coal | 1,970 | 1,970 | |||
Iberia | 1,250 | 1,250 | |||
Brazil | 720 | 720 | |||
Other (2) | 178 | 198 | -19 | -10% | |
EBITDA MW | 24,651 | 23,680 | +971 | +4% | |
Equity MW | 1,651 | 1,229 | +422 | +34% | |
EBITDA + Equity MW | 26,301 | 24,909 | +1,392 | +6% |
(1) Includes small-hydro;(2) Nuclear, Cogeneration & Waste
Electricity generation | 2021 | GWh | 2021 | 2020 | % | 4Q21 | 4Q20 | % | ||||||||||||||||||||||
Wind | 29,592 | 28,272 | +1,320 | +5% | 8,628 | 8,137 | +491 | +6% | |||||||||||||||||||||
2% | North America | 16,468 | 17,231 | -763 | -4% | 4,515 | 4,982 | -467 | -9% | ||||||||||||||||||||
12% | Europe | 11,281 | 9,949 | +1,332 | +13% | 3,473 | 2,847 | +627 | +22% | ||||||||||||||||||||
Brazil | 1,843 | 1,093 | +750 | +69% | 639 | 308 | +331 | +108% | |||||||||||||||||||||
11% | Hydro | 15,283 | 18,792 | -3,509 | -19% | 3,958 | 5,202 | -1,245 | -24% | ||||||||||||||||||||
60.9 TWh 49% | Iberia | (1) | 9,805 | 13,249 | -3,444 | -26% | 2,150 | 3,653 | -1,503 | -41% | |||||||||||||||||||
1% | Brazil | 5,478 | 5,543 | -65 | -1% | 1,808 | 1,549 | +259 | +17% | ||||||||||||||||||||
Solar | 733 | 266 | +467 | +176% | 256 | 46 | +210 | +452% | |||||||||||||||||||||
North America | 589 | 190 | 399 | +210% | 177 | 36 | 140 | +388% | |||||||||||||||||||||
25% | Europe | 76 | 75 | +1% | 11 | 10 | +2 | +16% | |||||||||||||||||||||
75% | Brazil and other | 68 | 0 | +68 | 54 | 0 | +54 | ||||||||||||||||||||||
Gas Iberia | 6,435 | 9,759 | -3,325 | -34% | 2,068 | 1,943 | +125 | +6% | |||||||||||||||||||||
Renewables | |||||||||||||||||||||||||||||
Coal | 7,569 | 5,821 | +1,747 | +30% | 2,480 | 2,665 | -185 | -7% | |||||||||||||||||||||
Wind | Hydro | Solar | |||||||||||||||||||||||||||
Iberia | 4,152 | 4,235 | -83 | -2% | 1,534 | 1,598 | -64 | -4% | |||||||||||||||||||||
Gas | Coal | Other | Brazil | 3,417 | 1,586 | +1,831 | +115% | 946 | 1,067 | -121 | -11% | ||||||||||||||||||
Other (2) | 1,318 | 1,407 | -89 | -6% | 351 | 401 | -50 | -12% | |||||||||||||||||||||
Total | 60,929 | 64,318 | -3,389 | -5% | 17,741 | 18,394 | -653 | -4% | |||||||||||||||||||||
LOAD FACTORS | (1) Includes small-hydro;(2) Nuclear, Cogeneration & Waste | ||||||||||||||||||||||||||||
Load factors | 2021 | 2020 | 4Q21 | 4Q20 | |||||||||||||||||||||||||
W&S Production deviation vs. exp. LT avg. | Hydro resources deviation vs. | Wind | 30% | 30% | 33% | 34% | |||||||||||||||||||||||
Gross Capacity Factor | 2021 vs 2020 | historical avg. | 2021 vs 2020 | North America | 31% | 33% | 34% | 37% | |||||||||||||||||||||||
Europe | 27% | 26% | 32% | 30% | |||||||||||||||||||||||||
Brazil | 41% | 38% | 39% | 42% | |||||||||||||||||||||||||
Hydro | |||||||||||||||||||||||||||||
Iberia(1) | 20% | 21% | 18% | 30% | |||||||||||||||||||||||||
Brazil | 39% | 39% | 51% | 44% | |||||||||||||||||||||||||
Solar | 25% | 21% | 15% | 6% | |||||||||||||||||||||||||
-3% | North America | 29% | 24% | 18% | 6% | ||||||||||||||||||||||||
Europe | 16% | 16% | 9% | 8% | |||||||||||||||||||||||||
-4% | -4% | Gas Iberia | 25% | 30% | 32% | 30% | |||||||||||||||||||||||
-7% | Coal | ||||||||||||||||||||||||||||
2021 | 2020 | 38% | 20% | 56% | 58% | ||||||||||||||||||||||||
2021 | 2020 | Iberia | |||||||||||||||||||||||||||
Brazil | 54% | 25% | 59% | 67% | |||||||||||||||||||||||||
Other(2) | 84% | 81% | 89% | 92% |
Investor Relations Department | Phone: +351 21 001 28 34 | Email: ir@edp.com | (1) Includes small-hydro;(2) Nuclear, Cogen. & Waste | www.edp.com |
Operating Data Preview 2021
Lisbon, January 20th, 2022
ENERGY SUPPLY
Volumes of electricity supplied in Iberia - Liberalized | 2021
Volumes supplied (GWh) | No. of Clients (th) | |||||||||||||
2021 | 2020 | % | 4Q21 | 4Q20 | % | Dec-21 | Dec-20 | % | ||||||
29% | ||||||||||||||
Electricity Iberia | 30,896 | 30,298 | +2% | 8,179 | 7,636 | +7% | 4,975 | 5,015 | -1% | |||||
Portugal Liberalized | 17,656 | 17,095 | +3% | 4,694 | 4,456 | +5% | 4,022 | 4,028 | -0% | |||||
28.6 TWh | Portugal Regulated | 2,280 | 2,413 | -5% | 585 | 646 | -9% | 930 | 965 | -4% | ||||
Spain | 10,959 | 10,790 | +2% | 2,900 | 2,535 | +14% | 23 | 22 | +5% | |||||
71% | ||||||||||||||
Gas Iberia | 8,219 | 11,710 | -30% | 2,088 | 2,964 | -30% | 687 | 691 | -1% | |||||
Portugal Liberalized | 4,247 | 4,127 | +3% | 1,070 | 1,131 | -5% | 650 | 651 | -0% | |||||
Business Residential | Portugal Regulated | 155 | 167 | -8% | 28 | 30 | -6% | 32 | 34 | -6% | ||||
Spain | 3,818 | 7,416 | -49% | 989 | 1,803 | -45% | 4 | 6 | -19% |
ELECTRICITY DISTRIBUTION
Iberia | ||||
2021 | 2020 | % | ||
Electricity distributed (GWh) | 62,889 | 55,804 | +7,085 | +13% |
Portugal(1) | 48,772 | 48,245 | +527 | +1% |
Spain | 14,117 | 7,559 | +6,558 | +87% |
Customers connected (th) | 7,713 | 7,673 | +40 | +1% |
Portugal | 6,336 | 6,302 | +34 | +1% |
Spain | 1,376 | 1,371 | +6 | +0% |
- Electricity volume that entered the distribution grid
Brazil | ||||
2021 | 2020 | % | ||
Electricity distributed (GWh) | 26,016 | 24,570 | +1,446 | +6% |
Final customers | 13,565 | 13,427 | +138 | +1% |
Access customers | 12,451 | 11,143 | +1,308 | +12% |
Customers connected (th) | 3,680 | 3,601 | +80 | +2% |
EDP São Paulo | 2,024 | 1,980 | +43 | +2% |
EDP Espírito Santo | 1,657 | 1,620 | +36 | +2% |
MARKET INDICATORS
Iberian market | 2021 | 2020 | % | |||
Average electricity spot price - Spain | €/MWh | 111.9 | 34.0 | +230% | ||
Hydro coefficient - Portugal | 1.0 = avg. Year | 0.93 | 0.97 | -4% | ||
Hydro coefficient - Spain | 1.0 = avg. Year | 0.90 | 1.00 | -10% | ||
Wind coefficient - Portugal | 1.0 = avg. Year | 1.01 | 0.94 | 7% | ||
Brazilian market | ||||||
Average spot price (PLD) | R$/MWh | 280 | 177 | 58% | ||
Generation Scalling Factor (GSF) (1) | % | 73% | 80% | -9% | ||
Exchange rates | ||||||
EUR/USD | - | Average | 1.18 | 1.14 | -3% | |
EUR/BRL | - | Average | 6.38 | 5.89 | -8% | |
EUR/USD | - | End of period | 1.13 | 1.23 | 8% | |
EUR/BRL | - | End of period | 6.31 | 6.37 | 1% |
- Weighted average
KEY ANNOUNCEMENTS
16-Dec-2020EDP Concludes The Acquisition of Viesgo
17-Dec-2020EDP concludes the sale of a portfolio of 6 hydro plants in Portugal for €2.2 billion
21-Jul-2021Asset rotation deal for 221 MW wind portfolio
04-Aug-2021EDP signs asset rotation deal of a 149 MW wind portfolio for an EV of €303 million
25-Oct-2021EDP Brasil announces program for acquisition of treasury shares and hydro disposal process
27-Oct-2021EDP and Sonatrach terminate partnership
03-Nov-2021EDP establishes growth platform for APAC through the acquisition of Sunseap
15-Nov-2021EDP signs asset rotation deal of a 181 MW operating wind portfolio in Spain
15-Dec-2021ERSE announces electricity tariffs for 2022 and parameters for2022-2025
17-Dec-2021Ocean Winds secures a20-yearPPA for 400 MW in the US
28-Dec-2021EDP completes asset rotation deal of transmission lines in Brazil
30-Dec-2021EDP completes asset rotation deal of a 200 MWac solar project in the US
30-Dec-2021EDP concludes a build & transfer agreement for a 302 MW wind farm project in the US
YE21 RESULTS RELEASE
EDP's YE21 results will be released on February 18th, 2022. 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 20 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 January 2022 17:20:07 UTC.