business plan for 2004 - EDP

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2003 - Annual Report - EDP Enertrade’s sales totalled 2 737 GWh, of which 1 620 GWh involved direct sales to customers whose use of electricity is intensive. This sales volume reflects an increase of about 103% compared with 2002. Enertrade’s average selling and purchasing prices in 2003 were 58.80 and 53.34 reals per MWh respectively. Another area of activity was the continuity of operations with electricity purchase options, under which 135 GWh were sold to several market agents. During the year Enertrade provided services to market agents and free customers. In addition to the activity of representing free consumers and self-producers before the MAE, it included in its range of services the provision of consultancy to major energy consumers, designed to provide the means to allow consumers to take a decision as to joining or not the wholesale market. Enertrade’s integrated activity with the Group’s distributors, Bandeirante, Escelsa and Enersul, allowed them to use the self-supply limit established by prevailing legislation, in contracting for the coming years. These contracts were closed within the price parameters established by ANEEL and taking into account the distributors’ tariff modes. 98/99
2 TELECOMMUNICATIONS >> 2.1 Global Framework 2003 was marked by the slowdown of economic activity that had been felt since 2002, with an inevitable impact on the telecommunications sector, particularly sensitive to the economic cycle. Against a background influenced by efforts to reduce costs and to increase operating efficiency, implemented by most economic agents, the ONI Group maintained its growth, achieving consolidated revenues of more than €310 million, about 25% more than in 2002. The Group’s environment both in Portugal and in Spain continued to be extremely adverse, and the barriers imposed by regulatory questions have been maintained, preventing any real competition. The main difficulties have to do with access to the local loop and also with the costs of interconnection with the networks of the incumbents, whose tariffs are among the highest in Europe. 2003 was also influenced by the conclusion of the process of termination of the business of ONI Way and by the exercise of the sale option on the whole of the company’s share capital. >> 2.2 Organisation and Business of the ONI Group During 2003 and in the wake of the concentration of the group’s activity on the fixed business, the Group’s structure was reorganised and now has the following business composition: ONI Telecom ONI Group Comunitel Ucall ONI Multimédia Portugal Regulatory Evolution The evolution of the regulatory framework of the industry in Portugal was influenced in 2003 by the process of transposition and implementation of the new regulatory framework of the European Union, which should have come into force in the various Member States on July 25, and, in Portugal, by the start to the duties of the Competition Authority and by the need for ongoing intervention by the sector regulator (ANACOM). As far as the fixed networks are concerned, there continued to exist a clearly insufficient degree of competition, reflected in the maintenance or even increase (as in the case of services supported on ADSL technology) of the market share of the incumbent operator, which continues to hold about 90% of telephone traffic and 95% of direct accesses, having increased its broadband market share to about 80%. The incumbent operator therefore continued to benefit from the situation, strange in European terms, of holding at the same time the basic telecommunications network and the principal cable TV network, which was not subject to any structural measure, nor were its negative effects even reduced by an approach to best European practice in terms of conditions of access to the basic network. The main aspect to remember as far as the legislative framework is concerned has naturally to do with the delay seen in Portugal to the process of transposition of the new Community framework, which, despite the fact that it involved no public hearing, contrary to what was seen in other countries, was approved by the Assembly of the Republic only in December, with its publication consequently postponed to 2004. Notwithstanding the activity of the regulator during 2003 and in previous years, there continued to be several constraints of a legal and regulatory nature that significantly conditioned the development of real competition in the fixed network services market. In most cases they were recurrent issues that have not yet been subject to any deliberation.
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CONTENTS >> ORGANISATION OF THE INF
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The first, the Institutional Report
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EDP Group Consolidated Turnover EBI
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Spain 20032002 Var. % Number of Emp
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COMPANY HIGHLIGHTS >> 2003 • Hidr
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Francisco de la Fuente Sánchez, Ch
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assumed responsibility for preparat
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MESSAGE TO SHAREHOLDERS João Ramal
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BUSINESS PLAN FOR 2004 - 2006 EDP p
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Within the scope for the simplifica
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EDP CORPORATE OFFICERS (2003-2005)
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José Morais Cabral Non-executive D
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CORPORATE GOVERNANCE EDP - Electric
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1 Disclosure of Information >> 1.1
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The responsibilities and functions
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whose main function is controling t
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Comparative evolution of EDP shares
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Indicators - Capital Market (1) In
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of €335.2 million, of which €27
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financial operations and liabilitie
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2 Exercise of voting rights and sha
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3 Company Rules Internal Regulation
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5 Management >> 5.1 Characteristics
Page 49 and 50: Policy of rewarding the members of
Page 51 and 52: 6 Group Management Support Services
Page 53 and 54: 7 Human Resources This chapter addr
Page 55 and 56: For the first time, a meeting of th
Page 57 and 58: 8 Pension Fund The Group companies
Page 59 and 60: 9 Information Systems The informati
Page 61 and 62: during 2003 by means of field infor
Page 63: • The larger number of environmen
Page 66 and 67: Following the sustained rise in 200
Page 68 and 69: Relatório & Contas 67/67
Page 70 and 71: Content 1. Energy Sector 72 1.1 Ibe
Page 72 and 73: 2003 - Annual Report - EDP The Cust
Page 74 and 75: 2003 - Annual Report - EDP • In S
Page 76 and 77: 2003 - Annual Report - EDP • Co-o
Page 78 and 79: 2003 - Annual Report - EDP The CPPE
Page 80 and 81: 2003 - Annual Report - EDP • Riba
Page 82 and 83: 2003 - Annual Report - EDP The Sopo
Page 84 and 85: 2003 - Annual Report - EDP More dyn
Page 86 and 87: 2003 - Annual Report - EDP Technica
Page 88 and 89: 2003 - Annual Report - EDP c) produ
Page 90 and 91: 2003 - Annual Report - EDP The foll
Page 92 and 93: 2003 - Annual Report - EDP In elect
Page 94 and 95: 2003 - Annual Report - EDP desired
Page 96 and 97: 2003 - Annual Report - EDP >> 1.3.3
Page 98 and 99: 2003 - Annual Report - EDP • Band
Page 102 and 103: 2003 - Annual Report - EDP Of the v
Page 104 and 105: 2003 - Annual Report - EDP Direct a
Page 106 and 107: 2003 - Annual Report - EDP • To c
Page 108 and 109: 2003 - Annual Report - EDP • The
Page 111 and 112: FINANCIAL STATEMENTS - SUMMARY EDP
Page 113 and 114: EDP - Electricidade de Portugal, S.
Page 115 and 116: PROPOSAL FOR THE APPROPRIATION OF N
Page 117 and 118: ACKNOWLEDGEMENTS The Board of Direc
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