Investor Presentation
Despite higher wholesale prices, regulatory framework in Portugal provides stable
prices for residentials and continuous system debt decline
edp
End-users Regulated Electricity Tariff
Portugal Electricity System Debt
€/MWh; Low-voltage clients (residentials & SMEs)
€ Bn
+0.2%
Wholesale price 39%
+83%
71%
Grid Access Tariff 61%
-52%
29%
3.5
-50%
1.7
2021
2022
Renewables & cogen generation at stable feed-in tariffs (1)
cover 110% of Low-voltage consumption
Grid access tariff -52% due to spread inversion between feed-in
tariffs (~€90/MWh) and wholesale price (2)
2020
2022
Stable end-users regulated tariffs for residentials together with a 50%
system debt decline in 2 years
Main contribution from improved spread between stable feed-
in tariffs and higher wholesale prices
Source: ERSE (1) ~22TWh/Year at €90/MWh (2) avg. wholesale electricity price assumption up from €54/MWh in 2021 to €105.5/MWh in 2022
Investor presentation 13View entire presentation