To estimate the S&P-adjusted FFO-to-debt ratio for EDP, S.A. for the fiscal year ended December 31, 2022, we follow the steps based on the provided methodology for Regulated Utilities:

**1. Identify Industry:**
EDP, S.A. operates in the generation, transmission, distribution, and supply of electricity and gas, which falls under the **Regulated Utilities** industry.

**2. Estimate Adjusted_EBITDA:**
EBITDA is calculated as: Profit before provisions, amortization, impairment, financial income/expenses, income tax, and CESE (4,523,539,000 EUR).
Adjustments:
- Provisions expenses: 14,539,000 EUR (already included in profit, but usually added back).
- Depreciation/Amortization/Impairment: 1,979,007,000 EUR.
- Joint Ventures/Associates: 239,429,000 EUR.
*Reported EBITDA:* (Operating Profit + Depr/Amort/Impairment + Provisions) = 4,523,539,000 + 1,979,007,000 + 14,539,000 = 6,517,085,000 EUR.
*Adjusted EBITDA* ≈ 6,517,085,000 EUR.

**3. Estimate FFO:**
FFO = Adjusted_EBITDA - Cash_Interest - Cash_Taxes
- Finance Costs: 1,753,220,000 EUR.
- Finance Income: 843,000,000 EUR.
- Net Cash Interest ≈ 1,753,220,000 - 843,000,000 = 910,220,000 EUR.
- Income Tax + CESE paid (Cash flows used in operating activities section): 258,849,000 EUR.
FFO = 6,517,085,000 - 910,220,000 - 258,849,000 = 5,348,016,000 EUR.

**4. Estimate Adjusted_Debt:**
- Longterm Borrowings (2022): 15,299,588,000 EUR.
- Current Borrowings (2022): 1,518,348,000 EUR.
- Total Reported Debt = 16,817,936,000 EUR.
- Eligible Cash: Cash and Cash Equivalents (2022): 3,222,409,000 EUR.
- Adjusted_Debt = 16,817,936,000 - 3,222,409,000 = 13,595,527,000 EUR.

**5. Calculate FFO / Adjusted_Debt Ratio:**
Ratio = 5,348,016,000 / 13,595,527,000 ≈ 0.393366...

Rounding to four decimal places, we get 0.3934.

<answer>0.3934</answer>