To estimate the Net Debt / EBITDA ratio for EDP, S.A. for the year 2022 based on the S&P methodology, we need to calculate two components: Adjusted EBITDA and Net Debt.

**1. Calculate Adjusted EBITDA**

S&P Global Ratings typically defines EBITDA as Earnings Before Interest, Taxes, Depreciation, and Amortization. For utility companies like EDP, adjustments are often made for non-recurring items, but without specific guidance on "adjusted" EBITDA exclusions in the prompt, we will use the standard operational EBITDA derived from the Income Statement data provided.

From the provided facts for the period 2022-01-01 to 2023-01-01 (Fiscal Year 2022):
*   **Profit Loss Before Financial Income And Financial Expenses Income Tax Expense And Extraordinary Contribution To The Energy Sector CESE** (This is effectively EBIT): 2,529,993,000 EUR
*   **Depreciation Amortisation And Impairment Loss Reversal Of Impairment Loss Recognised In Profit Or Loss**: 1,979,007,000 EUR

Standard EBITDA = EBIT + Depreciation & Amortization
EBITDA = 2,529,993,000 + 1,979,007,000 = 4,509,000,000 EUR

*Note: S&P methodology often adds back impairment losses if they are considered non-cash or non-recurring, but the line item "Depreciation Amortisation And Impairment..." already includes them. The line "Impairment Loss... IFRS9" (60,199,000 EUR) is likely included in the finance costs or operating expenses depending on classification, but the main D&A line is the primary add-back. The line "Profit Loss Before Provisions Amortisation And Impairment..." (4,523,539,000 EUR) is essentially EBITDA before provisions. Let's look closer.*

Let's use the explicit line: **"Profit Loss Before Provisions Amortisation And Impairment Financial Income And Financial Expenses Income Tax Expense And Extraordinary Contribution To The Energy Sector CESE"**: 4,523,539,000 EUR.
This figure represents EBITDA before provisions.
S&P often adjusts EBITDA for provisions if they are significant or non-recurring. The **"Provisions Expenses"** are 14,539,000 EUR.
So, Reported EBITDA ≈ 4,523,539,000 - 14,539,000 (if we subtract provisions to get to standard operating profit then add back D&A? No, the line says "Before Provisions...").
Actually, the line "Profit Loss Before Provisions Amortisation And Impairment..." is effectively EBITDA + Provisions? Or is it EBITDA before *charging* provisions?
Usually, EBITDA is calculated as:
Operating Profit (EBIT) + Depreciation + Amortization.
EBIT (Profit before financial income/expenses, tax, CESE) = 2,529,993,000 EUR.
Add: Depreciation, Amortisation and Impairment = 1,979,007,000 EUR.
EBITDA = 4,509,000,000 EUR.

Let's check if there are other adjustments. S&P might add back the "Impairment Loss... IFRS9" (60,199,000 EUR) if it's considered non-operating or non-cash in a specific way, but usually, financial impairments are below EBIT. The IFRS9 impairment is often below operating profit or in finance costs. The "Depreciation... Impairment... Recognised in Profit or Loss" likely refers to non-financial assets (PPE, Intangibles). The IFRS9 impairment is separate.
Let's stick to the core operational EBITDA: **4,509,000,000 EUR**.

**2. Calculate Net Debt**

S&P defines Net Debt as Total Debt minus Cash and Cash Equivalents (and sometimes unrestricted cash). It may also include lease liabilities and other debt-like items.

From the Balance Sheet at 2022-01-01 (Start of year) and 2023-01-01 (End of year). S&P typically uses the year-end balance sheet or an average. For a snapshot ratio, year-end is common. Let's use the year-end 2022 (2023-01-01 in the data labels).

**Debt Components (2023-01-01):**
*   **Longterm Borrowings**: 15,782,604,000 EUR
*   **Current Borrowings And Current Portion Of Noncurrent Borrowings**: 4,239,869,000 EUR
*   **Other Noncurrent Financial Liabilities**: 5,159,496,000 EUR (S&P often treats "Other Financial Liabilities" as debt if they are interest-bearing or debt-like. In utility contexts, this can include derivatives or structured finance. However, standard Net Debt usually focuses on Borrowings. Let's look at "Other Current Financial Liabilities": 3,600,893,000 EUR. These often include derivatives. S&P methodology for utilities often includes lease liabilities.)
*   **Right-of-use Assets** are 1,320,270,000 EUR. The corresponding lease liabilities are likely embedded in the borrowings or other financial liabilities.
*   **Institutional Partnerships In North America**: 2,212,162,000 EUR. This is a liability. S&P often treats minority interests in subsidiaries (like institutional partnerships in renewables) as debt-like if they have mandatory redemption or fixed returns. EDP Renováveis partnerships are often treated as debt-like by rating agencies.

Let's construct a comprehensive Debt figure:
1.  **Reported Borrowings**: Long-term (15,782,604,000) + Current (4,239,869,000) = 20,022,473,000 EUR.
2.  **Lease Liabilities**: Not explicitly broken out as a liability line, but "Right-of-use Assets" are 1,320,270,000. Usually, Lease Liabilities ≈ Right-of-Use Assets. Let's assume they are included in "Other Noncurrent Financial Liabilities" or "Other Current Financial Liabilities" or separately disclosed. If not separate, we might need to add them. However, looking at the magnitude of "Other Financial Liabilities" (5.1B Noncurrent + 3.6B Current = 8.7B), this is significant.
3.  **Institutional Partnerships**: 2,212,162,000 EUR. S&P typically adjusts for this in the "Debt" definition for EDP.

Let's look at a standard S&P calculation for EDP:
Gross Debt = Borrowings + Lease Liabilities + Debt-like items (Institutional Partnerships).
Cash = Cash and Cash Equivalents.

**Liabilities at 2023-01-01:**
*   Long-term Borrowings: 15,782,604,000
*   Current Borrowings: 4,239,869,000
*   Other Noncurrent Financial Liabilities: 5,159,496,000
*   Other Current Financial Liabilities: 3,600,893,000
*   Institutional Partnerships: 2,212,162,000

**Cash at 2023-01-01:**
*   Cash And Cash Equivalents: 4,900,205,000

**Refining the Debt Definition for S&P:**
S&P's "Standard & Poor's Global Ratings Criteria" for utilities often defines Debt as:
Short-term debt + Long-term debt + Capitalized leases + Preferred stock (if mandatory) + Minority interests with debt-like characteristics (Institutional Partnerships).

Let's assume "Other Financial Liabilities" contains derivatives and other items. Derivatives are usually excluded from Net Debt unless they are in a liability position and considered debt-like. However, without a breakdown, it's safer to stick to **Borrowings** and **Institutional Partnerships** which are clearly debt-like. Lease liabilities are also debt.

Let's try to find Lease Liabilities. They are not explicitly listed as "Lease Liabilities". They might be inside "Other Noncurrent Financial Liabilities" and "Other Current Financial Liabilities".
If we assume "Other Financial Liabilities" are largely derivatives and not core debt, we might exclude them. However, for a utility, "Other Financial Liabilities" can be substantial.
Let's look at the previous year (2022-01-01) to see trends.
2022-01-01 Borrowings: 15,299,588,000 (LT) + 1,518,348,000 (Curr) = 16,817,936,000.
2023-01-01 Borrowings: 15,782,604,000 (LT) + 4,239,869,000 (Curr) = 20,022,473,000.

Institutional Partnerships (2023-01-01): 2,212,162,000.

Cash (2023-01-01): 4,900,205,000.

**Scenario A: Strict Borrowings + Institutional Partnerships - Cash**
Gross Debt = 20,022,473,000 (Borrowings) + 2,212,162,000 (Inst. Partnerships) = 22,234,635,000 EUR.
Net Debt = 22,234,635,000 - 4,900,205,000 = 17,334,430,000 EUR.
EBITDA = 4,509,000,000 EUR.
Ratio = 17,334,430,000 / 4,509,000,000 ≈ 3.84x.

**Scenario B: Including Lease Liabilities**
If we estimate Lease Liabilities. Right of Use Assets = 1,320,270,000.
If we add this to Gross Debt:
Gross Debt = 22,234,635,000 + 1,320,270,000 = 23,554,905,000 EUR.
Net Debt = 23,554,905,000 - 4,900,205,000 = 18,654,700,000 EUR.
Ratio = 18,654,700,000 / 4,509,000,000 ≈ 4.14x.

**Scenario C: Including "Other Financial Liabilities"**
This would drastically increase debt. "Other Noncurrent Financial Liabilities" (5.1B) and "Other Current Financial Liabilities" (3.6B) sum to 8.7B. This is very high. These likely include derivative liabilities. S&P usually excludes derivative liabilities from debt unless they are synthetic debt. Given the volatility, it's safer to exclude them unless specified.

**Scenario D: Using Average Net Debt**
S&P often uses average debt over the period.
**2022-01-01 (Start of Year):**
Borrowings: 15,299,588,000 + 1,518,348,000 = 16,817,936,000.
Inst. Partnerships: 2,259,741,000.
Cash: 3,222,409,000.
Lease Liabilities (Est from ROU 1,007,029,000): ~1,007,000,000.
Net Debt Start = (16,817,936,000 + 2,259,741,000 + 1,007,000,000) - 3,222,409,000 = 16,862,268,000 EUR.

**2023-01-01 (End of Year):**
Net Debt End (with Leases) = 18,654,700,000 EUR (from Scenario B).

Average Net Debt = (16,862,268,000 + 18,654,700,000) / 2 = 17,758,484,000 EUR.
Ratio = 17,758,484,000 / 4,509,000,000 ≈ 3.94x.

Let's refine the EBITDA.
The line "Profit Loss Before Provisions Amortisation And Impairment..." is 4,523,539,000.
This is effectively EBITDA + Provisions? Or EBITDA before provisions expense?
If Provisions Expense is 14,539,000, and it's an expense, then EBITDA (which is before interest, tax, dep, amort) usually *includes* provisions in the "Earnings" part unless added back.
Standard EBITDA = Operating Profit + D&A.
Operating Profit (EBIT) = 2,529,993,000.
D&A = 1,979,007,000.
EBITDA = 4,509,000,000.

Is there any other add-back?
"Impairment Loss... IFRS9" 60,199,000. This is likely in Finance Costs or Other Expenses. If it's in Finance Costs, it's below EBIT. If it's in Other Expenses, it's above EBIT. The line "Other Expense By Nature" is 829,724,000.
The line "Profit Loss Before Provisions Amortisation And Impairment..." (4,523,539,000) is higher than our calculated EBITDA (4,509,000,000) by 14,539,000, which is exactly the "Provisions Expenses".
This implies that the line "Profit Loss Before Provisions..." is actually EBITDA + Provisions.
So, EBITDA = 4,523,539,000 - 14,539,000 = 4,509,000,000. This confirms our EBITDA calculation.

Now, regarding Debt.
S&P's methodology for EDP specifically often treats **Institutional Partnerships** as debt.
Does it treat **Lease Liabilities** as debt? Yes, S&P includes capitalized leases (IFRS 16) in debt.
Does it treat **Other Financial Liabilities** as debt? Usually no, unless specified.

Let's check the Net Debt calculation again with Leases.
End 2022 Net Debt:
Borrowings (LT + ST): 20,022,473,000
Institutional Partnerships: 2,212,162,000
Lease Liabilities: Estimated at ~1,320,270,000 (matching ROU assets).
Total Gross Debt-like: 23,554,905,000
Less Cash: 4,900,205,000
Net Debt: 18,654,700,000

Start 2022 Net Debt:
Borrowings (LT + ST): 16,817,936,000
Institutional Partnerships: 2,259,741,000
Lease Liabilities: Estimated at ~1,007,029,000 (matching ROU assets).
Total Gross Debt-like: 20,084,706,000
Less Cash: 3,222,409,000
Net Debt: 16,862,297,000

Average Net Debt: (18,654,700,000 + 16,862,297,000) / 2 = 17,758,498,500.

Ratio: 17,758,498,500 / 4,509,000,000 = 3.938...

If we do NOT include leases (some simplified definitions might skip them if not explicitly "Borrowings"):
End Net Debt: 17,334,430,000
Start Net Debt: (16,817,936,000 + 2,259,741,000) - 3,222,409,000 = 15,855,268,000
Average: (17,334,430,000 + 15,855,268,000) / 2 = 16,594,849,000
Ratio: 16,594,849,000 / 4,509,000,000 = 3.68x.

However, S&P is rigorous about IFRS 16 leases. They are debt.
Also, S&P might adjust EBITDA.
Are there any other adjustments?
"Gains Losses On Disposal..." -4,377,000. Small.
"Joint Ventures And Associates" income 239,429,000. This is equity income, included in EBIT?
The line "Profit Loss Before Financial Income... CESE" (EBIT) includes the share of JVs?
Usually, EBIT includes operating income. Share of JVs is often below operating profit or included in "Other Income".
"Other Income" is 927,450,000.
"Joint Ventures And Associates" is listed separately in the facts, but in the income statement structure, it's often part of Operating Profit or just below.
The line "Profit Loss Before Provisions Amortisation And Impairment..." (4,523,539,000) is the top-line EBITDA proxy.
If we use this proxy directly as EBITDA (assuming provisions are small/operating):
EBITDA = 4,523,539,000.
Ratio with Avg Net Debt (with leases) = 17,758,498,500 / 4,523,539,000 = 3.92x.

Let's look at the "Net Debt" definition again.
Sometimes "Other Noncurrent Financial Liabilities" includes the lease liabilities.
If "Other Noncurrent Financial Liabilities" (5,159,496,000) includes leases, we shouldn't double count.
Given the size of ROU assets (1.3B), it's likely a portion of the 5.1B.
If we assume the "Borrowings" lines are pure financial debt, and "Institutional Partnerships" are debt-like, and we need to add Leases.
If Leases are inside "Other Financial Liabilities", we can't just add ROU. We would need to extract them. Without extraction, adding ROU is a proxy.

Let's try a simpler approach often used in quick estimates:
Net Debt = (Long Term Borrowings + Short Term Borrowings + Institutional Partnerships) - Cash.
(Using Year-End only, as S&P sometimes uses year-end for leverage ratios in snapshots, though average is preferred for flow ratios).
Year-End Net Debt (No Leases) = 17,334,430,000.
EBITDA = 4,509,000,000.
Ratio = 3.84.

Year-End Net Debt (With Leases added as proxy) = 18,654,700,000.
Ratio = 4.14.

Average Net Debt (With Leases) = 17,758,500,000.
Ratio = 3.94.

S&P Global Ratings' actual reported leverage for EDP in 2022 was around 3.8x - 4.0x.
In their reports, they often define "Debt" to include:
- Bank loans and commercial paper
- Bonds
- Lease liabilities
- Minority interests in subsidiaries (Institutional Partnerships)

Let's assume the average net debt with leases is the most accurate S&P-style metric.
Result: ~3.94.

Let's double check the EBITDA.
S&P might add back "Impairment Loss... IFRS9" (60M) if considered non-recurring.
Adjusted EBITDA = 4,509,000,000 + 60,199,000 = 4,569,199,000.
Ratio = 17,758,500,000 / 4,569,199,000 = 3.88.

Let's check if "Other Financial Liabilities" should be included.
If we include "Other Noncurrent Financial Liabilities" and "Other Current Financial Liabilities" entirely as debt (unlikely, but possible if they are structured debt):
Debt would skyrocket. Unlikely.

Let's stick to the core components: Borrowings + Inst. Partnerships + Leases - Cash.
Average Net Debt: 17.76B.
EBITDA: 4.51B.
Ratio: 3.94.

Rounding to two decimal places: 3.94.

<answer>3.94</answer>