Mother earth is the source of all our energy. For her sake, we believe that the future is generating cleaner energy. For her sa
annual rePort rePort oF oF tHe tHe edP edPGeneral General and suPervIsorY suPervIsorY board board contents 7 10 12 12 13 13 14
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annual rePort oF tHe edP General and suPervIsorY board 6
message from the chairman message from the chairman 1. the year 2009 was in many regards unique. as expected, the financial cri
annual rePort oF tHe edP General and suPervIsorY board message from the chairman eurozone. this target must be met by 2013, how
• the acquisition from Gas natural of high-pressure natural gas distribution assets in the Basque Country, asturias and Cantabr
annual rePort oF tHe edP General and suPervIsorY board 1. eDP’s goVernance moDeL of the companies listed on the nYse euronext P
in conclusion and based on its experience so far, the GsB believes that, from a conceptual perspective, the two-tier model in f
annual rePort oF tHe edP General and suPervIsorY board 2. generaL anD sUPerVisorY BoarD 2.1 membersHIP Under eDP’s articles of
• Pursuant to the GsB iR, the existence of an incompatibility automatically terminates a term of office and the member in quest
annual rePort oF tHe edP General and suPervIsorY board • addition of a new article on the institutional 2.4. sPeCIalIsed CommIt
2.4.3. CorPorate GovernanCe and sustaInabIlItY CommIttee the CGsC is a specialised committee with responsibility for the follow
annual rePort oF tHe edP General and suPervIsorY board 3. actiVities of the generaL anD sUPerVisorY BoarD the GsB’s activity wa
• Participation in the CMVM public consultation process on the “Corporate Governance Code and Regulations”. one of the most imp
annual rePort oF tHe edP General and suPervIsorY board • 64 requests for information or additional clarification made by the CG
3.3. PrIor oPInIons article 17(2) of eDP’s articles of association lists a series of matters requiring a favourable prior opini
annual rePort oF tHe edP General and suPervIsorY board during 2009, based on their reports and selfassessments. 3.4.1. FInanCIa
adequately, although the new CMVM guidelines would require certain changes. the critical analysis they performed underscored th
annual rePort oF tHe edP General and suPervIsorY board With the start of the new term of office for eDP’s corporate bodies at t
associated with the company’s relations with its shareholders, and issuing opinions on these matters”. the GsB played a pioneer
annual rePort oF tHe edP General and suPervIsorY board • the GsB shall request supporting documentation for the transaction whe
valuing the full range of opinions and points of view expressed by their members. Following a period of collecting individual c
annual rePort oF tHe edP General and suPervIsorY board 3.6. Gsb aCtIvItY In FIGures 3.6.1. Gsb meetInGs 20091 - PartICIPatIon 2
4. assessment of the actiVitY anD Performance of the gsB anD its committees the basic direction taken in 2009 was to strengthen
annual rePort oF tHe edP General and suPervIsorY board the process implemented by the GsB has a dimension that deserves to be h
5. chaLLenges facing the generaL anD sUPerVisorY BoarD in 2010 the macro-economic situation in 2010, although improving in rela
annual rePort oF tHe edP General and suPervIsorY board 6. acKnoWLeDgements the GsB would like to express its thanks to: • the s
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annual rePort oF tHe edP General and suPervIsorY board oPinion of the generaL anD sUPerVisorY BoarD on eDP’s 2009 annUaL rePort
reflected all the adjustments and included all the materially relevant suggestions made by the external auditor on his conclusi
annual rePort oF tHe edP General and suPervIsorY board statement of generaL anD sUPerVisorY BoarD on eDP’s 2009 annUaL rePort 3
oPinion of the finance committee of the generaL anD sUPerVisorY BoarD 1. in the exercise of the duties conferred upon it by the
annual rePort oF tHe edP General and suPervIsorY board statement on the assessment of the actiVitY anD Performance of the execU
acronyms and abbreviations acronYms anD aBBreViations the following acronyms and abbreviations are used throughout this report
earth is all we need
PublICatIon eDP - energias de Portugal, s.a. Brand and Communication office Praça de Marquês de Pombal, 12 1250-162 lisboa desI
Printed on paper made with eCF – elementary Chlorine Free – cellulose with iso 9001, environmental Management iso 14001 and for
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RelatóRio e Contas 2009 annual rePort oF tHe edP General Cadern
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Mother earth is the source of all our energy. For her sake, we
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annual rePort rePort oF oF tHe tHe edP edPGeneral General and s
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annual rePort oF tHe edP Gen
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message from the chairman message from the chairman 1. the year
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annual rePort oF tHe edP General and suPervIsorY board message
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• the acquisition from Gas natural of high-pressure natural gas
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annual rePort oF tHe edP General and suPervIsorY board 1. eDP’s
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in conclusion and based on its experience so far, the GsB belie
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annual rePort oF tHe edP General and suPervIsorY board 2. gener
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• Pursuant to the GsB iR, the existence of an incompatibility a
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annual rePort oF tHe edP General and suPervIsorY board • additi
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2.4.3. CorPorate GovernanCe and sustaInabIlItY CommIttee the CG
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annual rePort oF tHe edP General and suPervIsorY board 3. actiV
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• Participation in the CMVM public consultation process on the
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annual rePort oF tHe edP General and suPervIsorY board • 64 req
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3.3. PrIor oPInIons article 17(2) of eDP’s articles of associat
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annual rePort oF tHe edP General and suPervIsorY board during 2
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adequately, although the new CMVM guidelines would require cert
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annual rePort oF tHe edP General and suPervIsorY board With the
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associated with the company’s relations with its shareholders,
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annual rePort oF tHe edP General and suPervIsorY board • the Gs
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valuing the full range of opinions and points of view expressed
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annual rePort oF tHe edP General and suPervIsorY board 3.6. Gsb
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4. assessment of the actiVitY anD Performance of the gsB anD it
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annual rePort oF tHe edP General and suPervIsorY board the proc
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5. chaLLenges facing the generaL anD sUPerVisorY BoarD in 2010
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annual rePort oF tHe edP General and suPervIsorY board 6. acKno
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annual rePort oF tHe edP General and suPervIsorY board oPinion
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reflected all the adjustments and included all the materially r
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annual rePort oF tHe edP General and suPervIsorY board statemen
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oPinion of the finance committee of the generaL anD sUPerVisorY
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annual rePort oF tHe edP General and suPervIsorY board statemen
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acronyms and abbreviations acronYms anD aBBreViations the follo
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earth is a
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PublICatIon eDP - energias de Portugal, s.a. Brand and Communic
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Printed on paper made with eCF – elementary Chlorine Free – cel
EDP
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