EDP reports flat EBITDA but expects gains from renewables and European electricity prices.

EDP, S.A. posted flat EBITDA with volume growth offset by lower prices. The company anticipates benefits from higher hydro generation and rising European electricity prices, favoring its renewable-heavy assets over peers reliant on combined cycle gas turbines (CCGT). However, rising net debt limits deleveraging and dividend growth despite ongoing capacity expansion. Investment in renewables is viewed positively, and growth is also expected from regulated utility infrastructure development in Brazil.