Investor Presentaiton
2023-25 expected baseload generation ~45% hedged at ~€60/MWh,
above the €45/MWh in our plan and clearly below forward prices
Baseload Electricity Price Iberia 2023-2025
Average €/MWh
Expectations for 2023-2025
edp
For ~45% of expected
baseload
generation (2) in 23-25
~60
47
137
Forward Electricity
Prices (1)
93
62
EDP BP
EDP
F2023
F2024
F2025
Assumption Hedges
✓ Baseload production ~45% hedged at ~€60/MWh
Structural reduction of maximum hedged
volumes to reduce risk of over-hedging
Increased demand for longer-term contracts
provides price stability and visibility
Potential pricing upside in the medium/long-term as
hedges roll over and hedging strategy is optimized
Avg. 23-25
(1) Data as of 31 of March 2022 | Source: Bloomberg | (2) Includes Hydro & Nuclear in Iberia (9.1 TWh) and Wind in Spain (excludes regulated assets), Romania and Poland
Investor presentation
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