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    EDP   PTEDP0AM0009

EDP - ENERGIAS DE PORTUGAL, S.A.

(EDP)
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Real-time Euronext Lisbonne  -  11:35 2022-09-27 am EDT
4.552 EUR   -1.22%
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EDP - Energias de Portugal, S.A. informs: ANEEL approves Tariff Revision at EDP Espírito Santo for 2022-2025

08/02/2022 | 01:52pm EDT

Investors &

Analysts'

Briefing

Reuters: EDP.LS

Bloomberg: EDP PL

ANEEL APPROVES TARIFF REVISION AT EDP ESPÍRITO SANTO FOR 2022-2025

Lisbon, August 2nd, 2022: EDP - Energias de Portugal, S.A. ("EDP"), through its 57.391% owned subsidiary EDP - Energias do Brasil S.A. ("EDP Brasil" or "Company"), announces to the market that the Brazilian electricity regulator ("ANEEL"), approved the 9th Periodic Tariff Revision for EDP Espírito Santo ("EDP ES"), effective from August 7th, 2022 onwards.

The new tariffs (average increase for consumers of 11.50% YoY) represent to EDP ES annual allowed revenues of R$ 1,409 million.

In the periodic tariff review process, occurring every 3 years, ANEEL recalculates the regulatory costs that can be managed by the distributor (Parcel B) which includes: (i) operational costs and (ii) capital costs (remuneration and depreciation). Non-manageable costs (Parcel A), that includes energy purchases from generators, cost of energy transportation, sector charges and financial adjustments are adjusted based on price variation during the preceding twelve months.

In this regard, the net Regulatory Asset Base was set at R$ 3.79 billion (vs. the previous R$

2.58 billion) for the starting 3-year regulatory period. The investments made in the previous tariff cycle were considered efficient and almost fully recognized by ANEEL. The regulated real rate of return on the Regulatory Asset Base is 7.15% net of taxes.

Finally, the regulatory index for Technical Losses was set by ANEEL at 7.18% (vs. 7.06% in the previous period). For Low Voltage, the Non-Technical Losses regulatory index was set at 11.80%.

This information is disclosed pursuant to the terms and for the purposes of the article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council.

EDP - Energias de Portugal. S.A.

Investor Relations

Department

phone +351 21 001 2834 ir@edp.com

1 EDP owns directly 56.05% of EDP Energias do Brasil, however consolidates 57.39%, as it holds treasury stock.

EDP - Energias de Portugal, S.A.

Issuer of shares admitted to trading on a regulated market Head Office: Av. 24 de Julho, 12 1249-300 Lisboa Portugal

Share Capital € 3 965 681 012 Registered at the Commercial Registry Office of Lisbon under no. 500697256 Company Tax Number 500697256

Disclaimer

EDP - Energias de Portugal SA published this content on 02 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2022 17:51:06 UTC.


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Financials
Sales 2022 16 538 M 15 954 M 15 954 M
Net income 2022 855 M 825 M 825 M
Net Debt 2022 14 487 M 13 975 M 13 975 M
P/E ratio 2022 21,2x
Yield 2022 4,15%
Capitalization 18 188 M 17 458 M 17 546 M
EV / Sales 2022 1,98x
EV / Sales 2023 1,92x
Nbr of Employees 12 907
Free-Float 66,0%
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Number of Analysts 21
Last Close Price 4,61 €
Average target price 5,99 €
Spread / Average Target 30,1%
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Miguel Stilwell de Andrade Head-Strategy & Corporate Development
Rui Manuel Rodrigues Lopes Teixeira Head-Electricity Generation
Rita Sousa Head-Compliance
Fernando Maria Masaveu Herrero Member-Supervisory Board
João Carvalho das Neves Member-Supervisory Board
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