EDP believes it is possible to provide long-term value to its shareholders while benefiting society in general.
EDP Spain is a business group whose main activity is to generate and transfer electricity, and to distribute and sell electricity and gas.
EDP Spain thus contributes to the economic growth of the different regions where it operates, both through direct activities and the ancillary activities required for its operations, generating economic flows that produce a multiplier effect, inducing economic effects in many other sectors.
Most EDP Spain assets are located in Asturias, Cantabria and the Basque Country. This presence fosters a social development model based on sustainable growth, generating a dynamic effect for local economies.
EDP's socioeconomic impact in Asturias, Cantabria and the Basque Country can be quantified by estimating direct, indirect and induced jobs associated with the company's activities in different sectors, as well the overall generation of wealth, measured through its contribution to regional GDPs.
To quantify it, we have considered EDP Spain's expenditure with goods and service suppliers in each region, employees' expenditure from their wages, and the taxes each region levies from EDP Spain's activities.
The total expenditure with suppliers in the three regions totals more than 548 million euros, distributed across sectors that are related to the company's activities (electricity generation, gas, steam and air conditioning) and in other local economy areas (architecture and engineering services, storage, electrical supplies, etc.)
Employees' expenditure from their wages amounts to 60 million euros, whereas taxes amount to 351 million euros.
The overall GDP contribution from EDP Spain's activities in Asturias, Cantabria and the Basque Country in 2015 is estimated to stand at 1351 million euros, which represents 1.4% of the Asturian, Cantabrian and Basque GDP as a whole.
EDP Spain's contribution to the Asturian GDP in 2015 amounts to 812 million euros, representing 3.8% of the region's GDP.
This contribution is diversified across multiple sectors of the local economy; 41% corresponds to electricity, gas, steam and air conditioning, followed by anthracite, coal and lignite extraction with 11.31%.
EDP Spain's contribution to the GDP in Cantabria amounts to 24 million euros, which is approximately the overall amount spent by the Cantabrian government on the region's environment and forest protection program.
As in the case of Asturias, the contribution is distributed across different activity sectors, with Public Administration being responsible for about 30%, followed by the technical services industry with about 15%.
EDP Spain's contribution to the GDP in the Basque Country amounts to 515 million euros, which represents 1% of the Basque GDP - enough to cover the region's investment in RDI.
As far as distribution is concerned, the first position is taken by Public Administration, a sector that represents over 57% of the GDP contribution, followed by the gas, steam and air conditioning industries with 5%.