Storms lift EDP power output 4% in first quarter
EDP increased electricity production by 4% in the first quarter, as successive storms boosted renewable generation, highlighting weather-driven volatility in energy markets.
EDP group increased its electricity production by 4% year-on-year in the first quarter, supported by a series of storms that improved renewable output, in a sign of how weather conditions continue to shape energy supply and pricing in Europe.
The Portuguese utility said the quarter was marked by strong hydro and wind resources, with adverse weather systems raising water levels and boosting generation capacity. This helped offset weaker contributions from other sources and reinforced the role of renewables in the company’s energy mix.
EDP’s hydroelectric generation in the Iberian Peninsula reached 4.3 terawatt-hours (TWh), 0.9 TWh higher than expected, during a period when water levels were 52% above the historical average (compared with 42% in the first quarter).
Meanwhile, wind and solar generation at EDP Renováveis, also led by Miguel Stilwell de Andrade, rose by 4% year-on-year to 11.5 TWh (including distributed solar in Europe and Brazil), supported by a 6% increase in installed capacity over the last 12 months
“The increase in hydro and wind production, following successive storms since late January, contributed to significant growth in renewable production and a 48% decrease in the average electricity price in the Iberian Peninsula, from 85.3 euros per megawatt-hour (MWh) in the first quarter of 2025 to €44.2 per MWh between January and March 2026, despite a temporarily low average price of €16.4 per MWh recorded in February, due to excessive rainfall”, highlighted the company led by Miguel Stilwell de Andrade.
Reservoir levels stood at 94% at the end of March, a record for this time of year over the last 10 years (compared to 76% at the end of 2025 and 89% in March 2025). “High reservoir levels are expected to underpin the performance of the Flexible Generation business in the coming quarters”, EDP noted.
Renewable production remained dominant within EDP’s portfolio, reflecting broader trends in Portugal, where favourable weather conditions have supported high levels of hydroelectric output and overall renewable generation. Across the country, renewables accounted for around 91% of electricity production in the first quarter.
The performance illustrates the sensitivity of utilities’ output to climate variability, particularly in markets like Portugal that rely heavily on hydro and wind resources. Periods of heavy rainfall and storms can significantly increase generation, while dry conditions can have the opposite effect.
For investors, the results underline both the upside potential and volatility associated with renewable-heavy portfolios, as utilities such as EDP benefit from favourable weather but remain exposed to seasonal and climatic fluctuations.
