In a statement to the Securities Market Commission (CMVM), in which it reports on the "Forecast Operational Data" for the first six months of the year, EDP highlighted that "hydro production increased by 56% compared to the same period last year, to 11, 2 TWh [terawatt hour], 2.7 TWh above expectations for the period in the Iberian Peninsula, supported by high inflow volumes" in the first half of the year.

According to EDP, hydro production in Portugal was 40% above the historical average, compared to 21% below the average in the first half of last year.

"Pumped water production increased by 37% compared to the same period last year, to 980 GWh [gigawatts hour], justified by the increase in volatility in the hourly price of electricity", he said.

According to EDP, at the end of June, "the levels of water reservoirs in Portugal stood at 80%, in line with June 2023, 14 p.p. [percentage points] above the historical average for this period of the year".

At the same time, "EDP's renewable energy production increased by 20% in the first half of the year, to 30.2 TWh, representing 98% of total electricity production and reflecting our ambition to be 'All Green' by 2030".

According to the group, wind, and solar production increased by 5%, supported by the "69% growth in solar production compared to the same period last year, as a result of the strong growth in installed capacity and the unchanged level of wind production, with the improvement of wind resources in the US and Europe to be mitigated by lower wind resources in Brazil and three asset rotation transactions in the second half of 2023."

According to data released by EDP, in the second quarter of 2024, "the Iberian integrated business benefited from the strong volume of hydro production and the significant reduction in gas supply costs, in a context of low average electricity prices in the Iberian Peninsula".