EDP increases electricity generation by 6% in the first nine months of the year

EDP's electricity generation grew in the first nine months of the year, while hydro production decreased.

EDP has published its operating data preview for the first nine months of the year, showing a 6 per cent year-on-year growth in electricity generation, while total hydro production fell 31 per cent.

“The total generation in 9M22 increased 6 per cent YoY, on the back of higher renewables globally and the increase in thermal generation in Iberia, following the drought in Iberia and the increase of electricity exports to France,” said EDP. However, In Brazil, “the improvement in hydro situation resulted in almost zero coal generation.”

In the first nine months of the year, EDP also saw the wind and solar generation increase 14 per cent “as result of higher installed capacity and as a result of wind & solar resources in line with LT average.”

Globally, the hydro production fell 31 per cent, while in Iberia, the production declined 53 per cent, which, according to the company, “was partially compensated by higher thermal generation in Iberia.”

Looking at the supply business in the Iberia market, “electricity volume sold increased 9 per cent YoY, reflecting mainly the growth of volumes sold to business clients in Spain”. On Gas, volumes sold declined 9 per cent compared to the same period in 2021.