• EDP management raised 2026 guidance on 1Q26 results call attended by CEO Miguel Stilwell d’Andrade, CFO Rui Teixeira, IR head Miguel Viana; recurring EBITDA target lifted about 5% to EUR 5.2 billion, net profit seen around EUR 1.3 billion.
• 1Q26 recurring EBITDA came in around EUR 1.4 billion, down 3% year on year, with recurring net profit around EUR 0.4 billion, down 9%, as lower Iberian power prices outweighed stronger regulated networks and renewables.
• Iberian electricity networks EBITDA rose 16% year on year as new regulatory periods began; Iberian networks CapEx rose 40% to EUR 164 million, with about EUR 20 million tied to storm-related rebuilding, while full-year Iberian networks CapEx planned around EUR 0.7 billion.
• Management flagged normalization risk in Iberia from ancillary services costs, estimating around EUR 50 million hit in 1Q, with plans to reprice about 60% in 2026, 80% in 2027; Portugal pool prices averaged about EUR 63 per MWh in 1Q versus about EUR 100 per MWh year earlier.
• CEO downplayed scope for Portuguese windfall taxes on power generation, citing low prices, while highlighting demand growth tailwinds in Portugal, including data centers; Start Campus project described as up to 1.2 GW across six phases, with phase two around 200 MW.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. EDP SA published the original content used to generate this news brief on May 08, 2026, and is solely responsible for the information contained therein.