In Brazil, EDPR reached revenues of 70 million reais, representing a 12% increase versus the prior year primarily based on the higher average selling price.
The average selling price in Brazil increased 8% to R$309/MWh, basically reflecting the inflation indexed adjustments in the PPA.
EDPR installed capacity in Brazil is fully under incentive programs for renewable energy development. These programs provide long-term visibility, setting longterm contracts to sell the electricity produced for 20 years, which translates into a stable and visible cash-flow generation throughout the projects’ life.
OPERATING COSTS AND INCOME
Net Operating Costs increased during the year mainly driven by several non-recurring events in Supplies and Services. All in all, EBITDA was stable at 41 million reais, leading to an EBITDA margin of 59%.