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EDP - Energias de Portugal, S.A. (EDP.LS)

Lisbon - Lisbon Delayed price. Currency in EUR
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4.4400-0.0290 (-0.65%)
At close: 04:35PM WEST
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    LISBON (Reuters) -Portugal's largest utility EDP-Energias de Portugal swung to a first-quarter loss of 76 million euros ($80 million) from year-ago profit of 180 million, hit by energy market turbulence due to Russia's invasion of Ukraine and a drought at home. EDP said in a statement that skyrocketing energy prices in the Iberian wholesale market and the drought had a 400-million-euro negative impact on its accounts. Chief Executive Miguel Stilwell said that despite a sharp drop in hydro generation, EDP "kept the selling price of electricity to customers at 60 euros per MWh, but had to buy it at 230 euros per MWh" in the Iberian wholesale market MIBEL.

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