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EDP Energias de Portugal SA (EDP.LS)

EDP.LS on Lisbon Stock Exchange

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Latest Key Developments (Source: Significant Developments)

EDP Announces Investor Calls For Securitization Of Tariff Deficit In Portugal
Wednesday, 23 May 2018 

May 23 (Reuters) - EDP Energias de Portugal SA ::ANNOUNCES MANDATE AND INVESTOR CALLS FOR POTENTIAL SECURITIZATION TRANSACTION OF TARIFF DEFICIT IN PORTUGAL.APPOINTS STORMHARBOUR AS SOLE ARRANGER AND JOINT LEAD MANAGER AND BANCO SANTANDER TOTTA AS JOINT LEAD MANAGER.  Full Article

Moody's Says China Three Gorges' Proposed Acquisition Of EDP Would Be Credit Negative If It Materialized
Thursday, 17 May 2018 

May 17 (Reuters) - Moody's::MOODY'S SAYS CHINA THREE GORGES’ PROPOSED ACQUISITION OF EDP WOULD BE CREDIT NEGATIVE IF IT MATERIALIZED.CHINA THREE GORGES CORP WOULD FINANCE THE DEAL PREDOMINANTLY WITH DEBT, WEAKENING ITS LEVERAGE METRICS, INCLUDING FUNDS FROM OPERATIONS/DEBT.  Full Article

EDP Board Says CTG Bid Price Does Not Reflect EDP Value
Tuesday, 15 May 2018 

May 15 (Reuters) - EDP ENERGIAS DE PORTUGAL SA ::EXECUTIVE BOARD SAYS THAT THE PRICE OFFERED BY CHINA THREE GORGES (CTG) DOES NOT ADEQUATELY REFLECT THE VALUE OF EDP.SAYS THE OFFER PREMIUM IS LOW CONSIDERING WHAT IS CUSTOMARY FOR EUROPEAN UTILITIES WHERE OFFEROR AIMS FOR CONTROLLING STAKE.  Full Article

China Three Gorges Set To Launch All-Cash Offer To Take Full Control Of Portuguese Utility EDP - FT
Friday, 11 May 2018 

May 11 (Reuters) - :CHINA THREE GORGES SET TO LAUNCH AN ALL-CASH OFFER TO TAKE FULL CONTROL OF PORTUGUESE UTILITY EDP - FT.DEAL WOULD SEE CTG AQUIRE 77 PER CENT OF EDP WHICH CTG DOES NOT ALREADY OWN - FT, CITING SOURCES.  Full Article

EDP Q1 Total Generation Output Up 7 Percent YOY
Thursday, 19 Apr 2018 

April 19 (Reuters) - EDP Energias de Portugal SA ::SAYS INSTALLED CAPACITY AT 26.8 GW AT END-MARCH, UP 3 PERCENT YOY.Q1 TOTAL GENERATION OUTPUT UP 7 PERCENT YOY.Q1 ELECTRICITY DISTRIBUTION IN PORTUGAL AND SPAIN UP 4.1 PERCENT AT 15,799 GWH YOY.Q1 ELECTRICITY DISTRIBUTION IN BRAZIL UP 0.9 PERCENT AT 6,326 GWH YOY.Q1 GAS SUPPLIED IN PORTUGAL AND SPAIN UP 7.3 PERCENT AT 5,754 GWH YOY.  Full Article

EDP Says No Contacts Or Negotiations Have Been Established Regarding Consolidation Operations
Monday, 9 Apr 2018 

April 9 (Reuters) - EDP ENERGIAS DE PORTUGAL SA ::SAYS NO CONTACTS OR NEGOTIATIONS HAVE BEEN ESTABLISHED REGARDING CONSOLIDATION OPERATIONS.  Full Article

EDPR Awarded Long Term Contracts For 218 MW At Brazilian Energy Auction
Thursday, 21 Dec 2017 

Dec 21 (Reuters) - EDP RENOVAVEIS SA ::SAID ON WEDNESDAY, THROUGH ITS SUBSIDIARY EDP RENOVAVEIS BRASIL, SECURED A 20-YEAR POWER PURCHASE AGREEMENT (PPA) AT BRAZILIAN ENERGY AUCTION TO SELL ELECTRICITY IN REGULATED MARKET.ENERGY WILL BE PRODUCED BY TWO WIND FARMS TO BE INSTALLED IN THE STATE OF RIO GRANDE DO NORTE WITH REGISTERED CAPACITY OF 121.8 MW AND 97.1 MW.THE INITIAL AWARDED PRICE OF CONTRACTS WAS SET AT R$99/MWH AND R$97/MWH RESPECTIVELY.COMMERCIAL OPERATION EXPECTED TO OCCUR IN JANUARY 2023.  Full Article

EDP: Regulator Announces Electricity Tariffs For 2018
Monday, 18 Dec 2017 

Dec 18 (Reuters) - EDP ENERGIAS DE PORTUGAL SA ::SAID ON SUNDAY PORTUGUESE ENERGY SERVICES REGULATORY AUTHORITY (ERSE) ASSUMPTION FOR AVERAGE ELECTRICITY PURCHASE COST IN 2018 BY LAST RESORT SUPPLIER, EDP SERVICO UNIVERSAL, WAS REVISED UPWARDS FROM 51 EUROS/MWH TO 54 EUROS/MWH.REGULATED GROSS PROFIT FOR ACTIVITY OF ELECTRICITY DISTRIBUTION IN 2018, OPERATED BY SUBSIDIARY EDP DISTRIBUICAO, WAS REDUCED BY 14 MILLION EUROS TO 1.06 BILLION EUROS.FINAL ANNUAL RATE OF RETURN (ROR) FOR 2018-2020 WAS REVISED DOWNWARDS COMPARED TO PRELIMINARY PROPOSAL OF ERSE.THE FLOOR LIMIT WAS MOVED FROM 5.0 PCT TO 4.75 PCT.THE CAP LIMIT WAS MOVED FROM 10.0 PCT TO 9.75 PCT .FOR THE HIGH AND MEDIUM VOLTAGE DISTRIBUTION SEGMENT, THE PRELIMINARY RATE OF RETURN FOR 2018 WAS MAINTAINED AT 5.75 PCT BEFORE TAXES.  Full Article

EDP sells 584 mln euros of securitization of electricity tariff deficit in Portugal
Thursday, 23 Nov 2017 

Nov 23 (Reuters) - EDP ENERGIAS DE PORTUGAL SA ::SAID ON WEDNESDAY EDP SERVICO UNIVERSAL SA (EDP SU) SELLS A PORTION OF 2017 TARIFF DEFICIT TO TAGUS - SOCIEDADE DE TITULARIZACAO DE CREDITOS SA, IN THE AMOUNT OF 584 MILLION EUROS.TAGUS WILL FINANCE TRANSACTION THROUGH ISSUANCE OF 600 MILLION EUROS OF SENIOR NOTES, OF WHICH 5 PERCENT WILL BE RETAINED BY EDP SU.2017 TARIFF DEFICIT RESULTED FROM DEFERRAL, FOR A PERIOD OF 5 YEARS, OF RECOVERY OF 2017 OVER COSTS RELATED WITH ACQUISITION OF ELECTRICITY FROM SPECIAL REGIME GENERATORS.  Full Article

EDP 9-month adjusted EBITDA down 4 pct YoY
Thursday, 2 Nov 2017 

Nov 2 (Reuters) - EDP ENERGIAS DE PORTUGAL SA ::9-MONTH NET PROFIT 1.15 BILLION EUROS VERSUS 615 MILLION EUROS YEAR AGO.9-MONTH EBITDA 3.27 BILLION EUROS VERSUS 2.89 BILLION EUROS YEAR AGO.9-MONTH REVENUE 4.12 BILLION EUROS VERSUS 4.26 BILLION EUROS YEAR AGO.SAYS NET DEBT 15.14 BILLION EUROS AT END-SEPT VERSUS 15.92 BILLION EUROS AT END-DEC. 2016‍​.SAYS NET PROFIT IMPACTED BY 558 MILLION EURO GAIN FROM SALE OF NED.SAYS 9-MONTH EBITDA ADJUSTED FOR ONE-OFF IMPACTS DECREASED 4 PERCENT YOY.  Full Article

UPDATE 1-Activist SVM takes stake in Portugese renewables company EDPR

LONDON, June 15 Activist firm Shareholder Value Management (SVM) has bought a 2 percent stake in EDP Renovaveis , the renewables business of EDP-Energias de Portugal , which is the target of a takeover bid from China Three Gorges.