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)
- Including the acquisition of renewables business of Viesgo.
- 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% |
- 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% |
- 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% |
- 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
14-Dec-2020EDP is awarded withlong-termCFD for 220 MW at auction in Poland
15-Dec-2020ERSE announces electricity tariffs for 2021
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