EDP production falls 7% to June

 In Companies, EDP, News

EDP’s electrical output fell 7% in the first half of 2023 party because of the effects of El Niño which particularly effected EDP Renováveis’ wind energy capacity in the US.

In the same period EDP Renováveis – the company’s renewables arm which is 71% held by EDP – managed to increase electricity production by 1% but the company admitted “abnormally weak conditions for eolic electricity generation”.
According to data from EDP, the company saw a production falloff of 7% for H1 on the same period in 2022 with the second quarter particularly hard hit with production falling 20% compared to the same quarter of 2022.
Eolic production fell 3%, production from gas on the Iberian peninsular fell 45% and total production from coal fell by around a half (51%).
On the other hand, hydropower increased 20% and solar power more than doubled with an improvement of 105% on the first half.
El Niño negatively impacted EDP Renováveis in the second quarter. “The second quarter of 2023 presented abnormally weak eolic conditions in the United States because of El Niño which mainly affected the Central-West region when compared to the first half of 2022”, states EDP Renováveis.
“The eolic resources of our operations in the US were 5% below the long-term average in the first half of 2023 compared to 2% above the average in the first quarter of 2023 and 10% above the first half average of 2022”, states the company. That resulted in a fall of 8% in renewable production in the US market in like-for-like terms where, in total, it increased 1%.
Electrical production of EDP Renováveis in Spain fell 7% and 5% in Portugal. All told production in EU fell 7%, 8% in the US but in Latin America EDP Renováveis production increased by 113%, double on H1 2022.