EDP will invest 500 million in intelligent networks

  • ECO News
  • 2 December 2019

The company will invest 500 million euros over the next decade in the electric distribution system. The investment plan will have no impact on the electricity bill.

EDP will invest, over the next decade, 500 million euros in the electricity distribution system to “accelerate the intelligent networks”. The investment plan has already been presented to the Secretary of State for Energy, João Galamba, and is part of the InovGrid 2030 program.

The goal is “to respond to the challenges of the energy transition”, said the executive director of EDP, João Marques da Cruz, to the Jornal de Negócios. In practice, the idea is to “accelerate the intelligent networks” to allow the introduction of new services, such as “a condominium can sell energy to the building in front”, exemplified the manager.

Regarding the impact of investment on consumers, the company ensures that there will be no direct effects on the electricity bill, remembering that the weight of the networks component in the electricity bill is 12%. João Marques da Cruz adds that the company will not need public support, given that the project will involve making the networks more intelligent, through the investment in technology.

The company led by António Mexia has strengthened its technological development, and this is not the only project of the electric company. As of next year, EDP will also invest in a pilot project in Parque das Nações together with universities in the area of intelligent networks.