The regulatory changes in Portugal implemented in the 2nd half of 2017 and the recent approval of the final CMEC adjustment explain a drop of €140 million in EBITDA in the first quarter of 2018.
EBITDA fell 10% to €1,722 million, marked by the following effects:
Net debt increased from €13.9 billion on December 17 to €14.2 billion in June of 2018, while the average cost of debt fell from 4.1% in the first half of 2017 to 3.7% in the first semester of 2018.
The value of renewable energies continues to rise and prove EDP's focus on clean technologies. The generation mix reached 74% in terms of renewable installed capacity (+ 0.6GW wind and solar). In terms of production, the value of renewables increased by 12pp in year-on-year terms to 72%, benefiting from the recovery of hydraulics on the Iberian Peninsula.
The number of customer contracts grew by 44,000 in the last 12 months to a total of 11.4 million, reflecting our strong commitment to customer satisfaction, service quality and greater engagement.
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