EDP's Brazil electricity sales plummet

Tuesday, October 18, 2016

EDP Energias do Brasil reported a 5% year-on-year decline in July-September electricity sales, dragged down by six consecutive quarters of negative growth.

The total volume of power distributed in the period fell to 5.879TWh from 6.187TWh, the company said in a statement.

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In the first nine months the figure fell to 18.308TWh from 19.330TWh a year earlier.

Despite the declines, EDP said its number of customers rose 2.5% to 3,299,059.

EDP Energias do Brasil, a subsidiary of Portugal's EDP, owns electricity generation, trading and distribution assets in 11 Brazilian states.

Its distribution concessionaires are São Paulo-based EDP Bandeirante and EDP Escelsa, which operates in the state of Espírito Santo.

Brazil's power grid operator ONS expects average demand for electricity to fall 2.4% this year amid the country's worst recession since the 1930s.