Speaking to journalists during a visit to a floating solar park in Singapore, the CEO of EDP said that the evolution of prices in Portugal, including an average increase of around 3% in the global value of the electricity bill for residential customers of EDP Comercial as of January, "it's something perfectly stable in the face of the framework that exists".
"For example, now here in Singapore they were telling me that energy prices rose 300%, and we see gas prices rising and multiplying by 10 times", he added.
"Therefore, we have always sought to have the best possible prices and I think that, given the framework, we are experiencing with the energy crisis, Portugal has been a good example, an example, despite everything, of great stability in energy prices for domestic customers".
Stilwell de Andrade explained that this stability also results from the structure of the electricity market in Portugal.
"We have a very large penetration of renewables, this is a way of ensuring price stability because basically, the prices of renewables are independent of the prices of fossil fuels, that is, the price of gas, oil, and coal can go up and down and the prices of renewables have remained fixed, in the end, it is isolating us from this large, very expressive growth that we have seen in fossil fuels", he underlined.
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