Operating Data Preview 2020

Lisbon, January 21st, 2021

KEY HIGHLIGHTS

  • Renewables represented 74% of electricity generated by EDP in 2020. Electricity produced from renewable energy sources rose 7% YoY, with hydro generation in line with historical average and wind generation 8% below expected volumes. Coal generation showed a strong decline of 46% YoY, despite an increase in 4Q20, explained by the burning of the remaining coal stocks ahead of the anticipated closure of Sines plant.
  • As of Dec-20, renewables represented 79% of EDP's installed capacity of 23.7 GW. As of 2020 YE, there were 2.3 GW of wind and solar projects under construction. The 4Q20 was marked by a proactive portfolio management, including the disposal of 6 hydro plants in Portugal (1.7 GW), disposal of 2 CCGT plants in Spain (0.8 GW), asset rotation of wind and solar portfolios in the US and Spain (0.8 GW) and the acquisition of Viesgo's renewables portfolio (0.5 GW). Our coal capacity in Iberia was reduced by 49% YoY due to the anticipated closure of Sines coal plant in Portugal (1.2 GW), which finished electricity production on December 24th. Coal capacity will continue to decline in 2021 with the early shutdown of Soto 3 plant (0.3 GW) in Spain.
  • Electricity distributed in Portugal declined 2% in 4Q20, a slight recovery vs. the overall 3% decline in 2020. In Spain, the number of clients connected to our electricity distribution networks has more than doubled in 4Q20, reflecting the acquisition of Viesgo in Dec-20. In Brazil, electricity distribution rose 2% YoY in 4Q20, but despite this recovery in the last quarter, volumes distributed fell 5% in 2020.
  • In the supply business, in Portugal, electricity volume sold declined 5% in 2020 (-7% in 4Q20) and the number of clients fell 1.8% YoY. In Spain, the disposal on December 1st of our retail energy supply activities resulting on a higher focus on the corporate segment, explain the sharp reduction in the number of clients and the significant decline in energy volumes in 4Q20.

INSTALLED CAPACITY

Installed capacity | Dec-20

1%

8%

12%

1.5%

23.7 GW 47%

30%

79%

Renewables

Wind

Hydro

Solar

Gas

Coal

Other

ELECTRICITY GENERATION

Capacity evolution | YoY

1,560

1,335

839

200

25

1,683

843

-3,366

1,180

-1,195

-3,001

Built-out

(1)

Sell down

Decom.

∆ YoY

Capacity under construction | Dec-20

2,320 MW (2)

  1. Including the acquisition of renewables business of Viesgo.
  2. Includes equity participations in offshore.

MW

Dec-20

Dec-19

%

Wind

11,155

10,667

+488

+5%

North America

6,005

5,853

+152

+3%

Europe

4,714

4,346

+367

+8%

Brazil

436

467

-32

-7%

Hydro

7,127

8,785

-1,658

-19%

Iberia (1)

5,527

7,186

-1,658

-23%

Brazil

1,599

1,599

Solar

345

145

+200

+138%

Gas Iberia

2,886

3,729

-843

-23%

Coal

1,970

3,150

-1,180

-37%

Iberia (2)

1,250

2,430

-1,180

-49%

Brazil

720

720

Nuclear Spain

156

156

Cogen. & Waste

42

49

-7

-14%

Total

23,680

26,681

-3,001

-11%

  1. Includes small-hydro;(2) Excludes Sines, with operations ending in Dec-20, and decommissioning works started in Jan-21.

Electricity generation | 2020

2%

9%

15%

0.4% 64.3 TWh 44%

29%

74%

Renewables

Wind Hydro Solar Gas Coal

GWh

2020

2019

%

4Q20

4Q19

%

Wind

28,272

29,768

-1,495

-5%

8,137

8,100

+37

+0%

North America

17,231

16,297

+934

+6%

4,982

4,398

+584

+13%

Europe

9,949

11,713

-1,764

-15%

2,847

3,203

-356

-11%

Brazil

1,093

1,757

-665

-38%

308

499

-191

-38%

Hydro

18,792

14,110

+4,682

+33%

5,198

5,143

+54

+1%

Iberia(1)

13,249

9,982

+3,267

+33%

3,648

4,047

-399

-10%

Brazil

5,543

4,129

+1,415

+34%

1,549

1,096

+453

+41%

Solar

265

273

-8

-3%

46

48

-2

-4%

Gas Iberia

9,759

10,184

-425

-4%

1,943

2,719

-776

-29%

Coal

5,821

10,861

-5,040

-46%

2,665

2,128

+536

+25%

Iberia

4,235

7,154

-2,919

-41%

1,598

943

+655

+69%

Brazil

1,586

3,707

-2,121

-57%

1,067

1,185

-118

-10%

Other

Nuclear Spain

1,196

1,223

-27

-2%

339

335

+4

+1%

Cogen. & Waste

211

270

-59

-22%

62

45

+17

+38%

Total

64,318

66,690

-2,372

-4%

18,390

18,518

-128

-1%

  1. Includes small-hydro

LOAD FACTORS

Wind & Solar Production deviation vs.

Hydro resources deviation vs.

avg. P50 | 2020 vs 2019

historical avg. | 2020 vs 2019

Load factors

2020

2019

4Q20

4Q19

Wind

30%

32%

34%

36%

North America

33%

34%

37%

36%

Europe

26%

28%

29%

33%

Brazil

38%

43%

42%

48%

Hydro

-3%

Iberia(1)

21%

16%

24%

26%

Brazil

39%

29%

44%

31%

-3%

Solar

21%

21%

14%

15%

Gas Iberia

30%

31%

26%

33%

-8%

Coal

-19%

Iberia

20%

34%

30%

18%

2020

2019

2020

2019

Brazil

25%

59%

67%

75%

Nuclear Spain

88%

90%

99%

97%

(1) Includes small-hydro

Investor Relations Department

Phone: +351 21 001 28 34

Email: ir@edp.com

www.edp.com

Operating Data Preview 2020

Lisbon, January 21st, 2021

ENERGY SUPPLY

Volumes of electricity supplied in Iberia | 2020

Volumes supplied (GWh)

No. of Clients (th)

2020

2019

%

4Q20

4Q19

%

2020

2019

%

Electricity(1)

53,439

54,394

-1.8%

11,844

18,821

-37.1%

Iberia

27,885

30,358

-8.1%

6,990

7,813

-10.5%

4,050

5,270

-23.1%

45%

27.9 TWh 55%

Portugal

17,095

17,995

-5.0%

4,456

4,808

-7.3%

4,028

4,104

-1.8%

Spain

10,790

12,362

-12.7%

2,535

3,005

-15.6%

22

1,166

-98.1%

Brazil

25,554

24,036

+6%

4,854

11,008

-55.9%

Gas(1)

11,543

11,971

-3.6%

2,919

3,687

-20.8%

657

1,562

-57.9%

Portugal

4,127

3,793

+8.8%

1,115

1,088

+2.5%

651

659

-1.1%

Spain

7,416

8,178

-9.3%

1,803

2,599

-30.6%

6

903

-99.4%

Business

Residential

(1) Last resort supply excluded for Portugal but included for Spain

ELECTRICITY DISTRIBUTION

Iberia

2020

2019

%

Electricity distributed (GWh)

55,804

58,067

-2,263

-3.9%

Portugal(1)

48,245

49,805

-1,560

-3.1%

Spain

7,559

8,262

-703

-8.5%

Customers connected (th)

7,673

6,946

+728

+10.5%

Portugal(1)

6,302

6,277

+25

+0.4%

Spain

1,371

668

+702

+105.1%

  1. Electricity volume that entered the distribution grid

Brazil

2020

2019

%

Electricity distributed (GWh)

24,421

25,591

-1,170

-4.6%

Final customers

13,429

14,202

-773

-5.4%

Access customers

10,992

11,389

-397

-3.5%

Customers connected (th)

3,601

3,524

+76

+2.2%

EDP São Paulo

1,980

1,936

+44

+2.3%

EDP Espírito Santo

1,620

1,588

+32

+2.0%

MARKET INDICATORS

Iberian market

2020

2019

%

Average electricity spot price - Spain

€/MWh

34.0

47.7

-29%

Hydro coefficient - Portugal

1.0 = avg. Year

0.97

0.81

20%

Hydro coefficient - Spain

1.0 = avg. Year

1.00

0.90

11%

Wind coefficient - Portugal

1.0 = avg. Year

0.94

1.07

-12%

Brazilian market

Average spot price (PLD)

R$/MWh

177

227

-22%

Generation Scalling Factor (GSF) (1)

%

80%

81%

-1%

Exchange rates

EUR/USD - Average

1.14

1.12

-2%

EUR/BRL - Average

5.89

4.41

-25%

EUR/USD - End of period

1.23

1.12

-9%

EUR/BRL - End of period

6.37

4.52

-29%

(1) Weighted average

KEY ANNOUNCEMENTS

13-Oct-2020EDP secures a PPA for two solar projects in the U.S. totalling approximately 100 MW

01-Dec-2020EDP concludes the sale to Total of 2 CCGT plants and B2C supply business in Spain for an entreprise value of €480 million

14-Dec-2020EDP is awarded withlong-termCFD for 220 MW at auction in Poland

15-Dec-2020ERSE announces electricity tariffs for 2021

15-Dec-2020EDP concludes an asset rotation deal for wind farms in Spain for a total consideration of €450 million

16-Dec-2020EDP concludes the acquisition of Viesgo for an entreprise value of €2.7 billion

17-Dec-2020EDP concludes the sale of a portfolio of 6 Hydro plants in Portugal for €2.2 billion

28-Dec-2020EDP concludes $0.7 billionsell-downdeal for a wind and solar portfolio in North America

28-Dec-2020EDP sells Portuguese Tariff Deficit for €0.3 billion

RESULTS RELEASE

EDP's 2020 results will be released after Euronext Lisbon market close on February 24th, 2021. A conference call will be hosted by EDP's CEO, Mr. Miguel Stilwell d'Andrade and EDP's CFO, Mr. Rui Teixeira, on the same day, at 17:00 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 21 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 January 2021 22:35:08 UTC