Connection

popular articles

RBM signs agreement for 140 MW of wind power
SERMATEC completes major energy storage project in Eastern Europe
SBM Offshore and Technip Energies launch Ekwil, a JV dedicated to offshore wind energy
Egypt invites tenders for 740,000 tonnes of petroleum products
Chaberton Energy starts 2.9 MW solar project in Howard County

Energias de Portugal: Lower electricity production and quarterly profit

Drastic decline in EDP's net income in Q2 2023 due to lower electricity production and energy sales, despite a recovery in hydroelectric production in the first half of the year.

Please share:

Electricity and gas group Energias de Portugal (EDP) announced on Thursday that in the second quarter of 2023 it posted a net profit down 65% year-on-year, to 134 million euros, due to lower electricity production and sales.

EDP records a 19% drop in energy sales and electricity production in 2023

Over this period, EDP’s energy sales fell by 19% to 3.76 billion euros, while electricity production by the group, which operates in Portugal, Spain, Brazil and the United States, fell from 14,474 gigawatts in the second quarter of 2022 to 11,556 gigawatts between April and June of this year.

Quarterly EBITDA also fell by 19% to 1.04 billion euros. For the first half of 2023 as a whole, the company controlled by the China Three Gorges group posted a 43% rise in net profit to 437 million euros, thanks to a 68% recovery in hydroelectric production, after a year 2022 marked by a major drought, EDP boasted in a statement. The Group’s net debt increased by 16% compared with the end of 2022, and stood at 15.3 billion euros at the end of June.

Register free of charge for uninterrupted access.

Publicite

Latest news

Argentina’s Javier Milei Announces Nuclear Reactor to Meet 9% Energy Demand Growth
Sierra Leone: an electric tricycle prototype to tackle pollution
Guyana-Venezuela tensions after military bridge inauguration on Essequibo
Colombia sanctioned for violations on 370 km of U’wa indigenous lands linked to energy projects
Switzerland Faces Potential Loss of 29% Electricity as Nuclear Plants Near Shutdown

Recently published in

Jean-Christian Bergeron appointed as head of Rubis Énergie to accelerate growth

Rubis, an energy group based in Paris, appoints Jean-Christian Bergeron as the General Manager of Rubis Énergie. He will assume his role in January 2025 to lead growth strategy in global energy distribution markets.
ABB strengthens its business strategy in renewable energy with the acquisition of Gamesa Electric
The Swiss-Swedish group ABB acquires strategic activities from Gamesa Electric, consolidating its business strategy in renewable energy through equipment for wind, solar, and storage.
en_1140935540
ABB strengthens its business strategy in renewable energy with the acquisition of Gamesa Electric
The Swiss-Swedish group ABB acquires strategic activities from Gamesa Electric, consolidating its business strategy in renewable energy through equipment for wind, solar, and storage.
en_1140935540
EIB Grants €243 Million to ERG to Strengthen Its Wind and Solar Assets in Europe
The European Investment Bank finances the development and modernization of energy infrastructure in France, Italy, and Germany, supporting a portfolio of 270 MW of renewable projects.
en_1140927540
EIB Grants €243 Million to ERG to Strengthen Its Wind and Solar Assets in Europe
The European Investment Bank finances the development and modernization of energy infrastructure in France, Italy, and Germany, supporting a portfolio of 270 MW of renewable projects.
en_1140927540
Pattern Energy welcomes a new investment to accelerate its growth in renewable energy
Pattern Energy announces the entry of a consortium led by APG and ART, marking a major milestone in its expansion with over 25 GW of renewable energy projects across North America.
en_1140932540
Pattern Energy welcomes a new investment to accelerate its growth in renewable energy
Pattern Energy announces the entry of a consortium led by APG and ART, marking a major milestone in its expansion with over 25 GW of renewable energy projects across North America.
en_1140932540

Blockade at GE Vernova Site in Montoir-de-Bretagne: Unions Oppose Job Cuts

Access to the GE Vernova plant in Montoir-de-Bretagne has been blocked since Friday by unions protesting against the planned elimination of 140 jobs.
The IFC invests $30 million in an energy fund to strengthen its strategy in Africa
The International Finance Corporation (IFC) injects $30 million into Inspired Evolution Fund III, a fund focused on renewable energy, as part of its diversification and expansion strategy in Africa's growing markets.
en_1140907540
The IFC invests $30 million in an energy fund to strengthen its strategy in Africa
The International Finance Corporation (IFC) injects $30 million into Inspired Evolution Fund III, a fund focused on renewable energy, as part of its diversification and expansion strategy in Africa's growing markets.
en_1140907540
Marathon Petroleum Announces the Release of 2024 Financial Results
Marathon Petroleum Corp. (MPC) will reveal its financial results for the fourth quarter and full year 2024 during a conference on February 4, 2025. The information will be available online, with a webcast replay accessible for two weeks.
en_1140853540
Marathon Petroleum Announces the Release of 2024 Financial Results
Marathon Petroleum Corp. (MPC) will reveal its financial results for the fourth quarter and full year 2024 during a conference on February 4, 2025. The information will be available online, with a webcast replay accessible for two weeks.
en_1140853540
Suez: departure of CEO Sabrina Soussan and major governance reorganization
Suez announces the unexpected departure of its CEO Sabrina Soussan effective January 31, 2025. A transitional organizational shift is underway with Thierry Déau, chairman of the board, ensuring continuity and the group’s future.
en_1140804540
Suez: departure of CEO Sabrina Soussan and major governance reorganization
Suez announces the unexpected departure of its CEO Sabrina Soussan effective January 31, 2025. A transitional organizational shift is underway with Thierry Déau, chairman of the board, ensuring continuity and the group’s future.
en_1140804540

BP and JERA form a strategic joint venture to become a global leader in offshore wind energy

BP and JERA join forces to create JERA Nex BP, a joint venture aimed at developing a 13 GW offshore wind project portfolio. This strategic initiative reflects a disciplined growth model while strengthening their presence in Europe and Asia-Pacific.
France: Enedis commits €3.6 billion to its business strategy for modernizing the electric grid
Enedis is investing €3.6 billion in an ambitious strategy to modernize the French electric grid, enhance its climate resilience, and support the national industry.
en_1140772540
France: Enedis commits €3.6 billion to its business strategy for modernizing the electric grid
Enedis is investing €3.6 billion in an ambitious strategy to modernize the French electric grid, enhance its climate resilience, and support the national industry.
en_1140772540
Elyse Energy raises €120 million to accelerate its sustainable fuel projects
Elyse Energy, a French SME, announces €120 million in funding to develop synthetic methanol and sustainable fuel plants, targeting the decarbonization of the aviation, maritime, and chemical sectors.
en_1140773540
Elyse Energy raises €120 million to accelerate its sustainable fuel projects
Elyse Energy, a French SME, announces €120 million in funding to develop synthetic methanol and sustainable fuel plants, targeting the decarbonization of the aviation, maritime, and chemical sectors.
en_1140773540
TotalEnergies acquires developer VSB to strengthen its energy strategy
As part of its global energy strategy, TotalEnergies invests €1.57 billion to acquire the German group VSB, a major player in wind and solar projects in Europe.
en_1140735540
TotalEnergies acquires developer VSB to strengthen its energy strategy
As part of its global energy strategy, TotalEnergies invests €1.57 billion to acquire the German group VSB, a major player in wind and solar projects in Europe.
en_1140735540

Aramco finalizes the acquisition of 10% of Horse Powertrain

Aramco completes the acquisition of a 10% stake in Horse Powertrain, valued at €7.4 billion, specializing in hybrid and thermal powertrain solutions.
Amprion launches a tender for a decentralized grid booster
Amprion opens a tender for the construction and operation of a decentralized grid booster, a strategic project aimed at reducing redispatch costs and strengthening network efficiency.
en_1140674540
Amprion launches a tender for a decentralized grid booster
Amprion opens a tender for the construction and operation of a decentralized grid booster, a strategic project aimed at reducing redispatch costs and strengthening network efficiency.
en_1140674540
Arkolia accelerates its development with the support of Mirova and BNP Paribas
Mirova and BNP Paribas Asset Management acquire a majority stake in Arkolia, a French renewable energy player, to support its growth and achieve 1.5 GW capacity by 2030.
en_1140678540
Arkolia accelerates its development with the support of Mirova and BNP Paribas
Mirova and BNP Paribas Asset Management acquire a majority stake in Arkolia, a French renewable energy player, to support its growth and achieve 1.5 GW capacity by 2030.
en_1140678540
Axpo secures 163 MW of renewable energy in France through Urbasolar and Volkswind
Axpo's solar and wind divisions secure a total of 163 MW in two tenders in France, strengthening their key role in the European energy transition strategy.
en_1140640540
Axpo secures 163 MW of renewable energy in France through Urbasolar and Volkswind
Axpo's solar and wind divisions secure a total of 163 MW in two tenders in France, strengthening their key role in the European energy transition strategy.
en_1140640540

EDF: An investigation opened into undue benefits for its former executives

The National Financial Prosecutor's Office is investigating suspicions of public fund misappropriation involving EDF. Material benefits were allegedly granted to its former executives without any legal framework over several years.
Masdar completes strategic acquisition of TERNA ENERGY to accelerate growth in Europe
Masdar strengthens its global energy portfolio with the acquisition of 70% of TERNA ENERGY, marking a key step in the strategic transfer of assets for Europe’s energy transition.
en_1140638540
Masdar completes strategic acquisition of TERNA ENERGY to accelerate growth in Europe
Masdar strengthens its global energy portfolio with the acquisition of 70% of TERNA ENERGY, marking a key step in the strategic transfer of assets for Europe’s energy transition.
en_1140638540
Eni distributes over three million free shares to its employees
Eni distributes over three million free shares to its employees
en_1140649540
Eni distributes over three million free shares to its employees
Eni distributes over three million free shares to its employees
en_1140649540
Africa Oil strengthens its strategic shareholding in Impact Oil: 39.5% of shares acquired
Africa Oil Corporation increases its stake in Impact Oil & Gas to 39.5%, consolidating its investment strategy in the Orange Basin of Namibia, a key region for the oil sector.
en_1140548540
Africa Oil strengthens its strategic shareholding in Impact Oil: 39.5% of shares acquired
Africa Oil Corporation increases its stake in Impact Oil & Gas to 39.5%, consolidating its investment strategy in the Orange Basin of Namibia, a key region for the oil sector.
en_1140548540

Technip Energies anticipates 43% revenue growth by 2028

Technip Energies, a key player in energy engineering, announces ambitious forecasts: over €8.6 billion in revenue by 2028 and strengthened diversification towards decarbonization and sustainable technologies.
TerraForm Power Appoints Mark Noyes as CEO to Drive Its Strategy
Mark Noyes, a seasoned expert in renewable energy, joins TerraForm Power as CEO to steer the company’s growth strategy in the face of industry challenges and opportunities.
en_1140529540
TerraForm Power Appoints Mark Noyes as CEO to Drive Its Strategy
Mark Noyes, a seasoned expert in renewable energy, joins TerraForm Power as CEO to steer the company’s growth strategy in the face of industry challenges and opportunities.
en_1140529540
Wood Mackenzie Analysis: Trump’s Energy Policy Faces Investment Challenges but Supports Renewables
Wood Mackenzie anticipates a protectionist shift under Trump’s presidency, marked by a retreat from net-zero ambitions. However, renewables and the IRA will continue shaping the U.S. energy future.
en_1140506540
Wood Mackenzie Analysis: Trump’s Energy Policy Faces Investment Challenges but Supports Renewables
Wood Mackenzie anticipates a protectionist shift under Trump’s presidency, marked by a retreat from net-zero ambitions. However, renewables and the IRA will continue shaping the U.S. energy future.
en_1140506540
Enel announces €43 billion in investments and a dividend increase
The Italian group Enel plans to invest €43 billion by 2027, focusing on networks and renewable energies, while increasing dividends for its shareholders.
en_1140480540
Enel announces €43 billion in investments and a dividend increase
The Italian group Enel plans to invest €43 billion by 2027, focusing on networks and renewable energies, while increasing dividends for its shareholders.
en_1140480540

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS