Portugal energy report

• The country targets a reduction by 45% to 55% of GHG emissions and a share of 47% of renewables in final energy consumption in 2030.
• EDP for electricity and Galp Energia for oil and gas dominate their respective markets.
• Chinese companies own 21% of EDP and 25% of REN, the power and gas transmission company.
• The share of renewables in the power mix has increased by 12 pp since 2010 to 66% in 2021.
• Energy prices are close to the EU average.
• The price of petroleum products follows international prices.
• Energy consumption per capita is almost a third lower than the EU average
• The share of coal in the energy mix declined by 13 pp since 2017 to 1% in 2021, while the share of hydro, wind, and solar increased by 8 pp to 15%.
• Portugal aims to strengthen its electricity grid to integrate more renewables (hydro and wind in the north and solar in the south).
• Portugal agreed with Spain and France to build a new underwater gas pipeline project between Barcelona and Marseille as a future green H₂ corridor.

• Institutions & Energy Policy

  The State Secretary for Energy, under the Ministry of Economy, oversees the national energy policy and supervises the energy sector. The Directorate General for Energy and Geology (DGEG) is responsible for designing, promoting, and evaluating energy policies.

  ERSE, Entidade Reguladora dos Serviços Energéticos, is the electricity and gas regulator.

• Energy Companies

  Electricity:

  EDP, Energias de Portugal, the former national electric utility, is held by China Three Gorges (CTG) (19.19%), OPPIDUM (7.2%), BlackRock (7.38%), Canada Pension Plan Investment Board (5.16%), Norges Bank (2.42%), and other shareholders.

• Energy Supply

  Oil:

  Portugal does not produce oil and imported 9.4 Mt of crude oil in 2021 (-19% compared to 2020). In 2021, the main crude oil suppliers were Brazil (38%), Nigeria (21%), Azerbaijan (12%), and United Arab Emirates (10%).

• Energy Prices

  Oil:

  The price of petroleum products follows international oil prices. After a decline in 2020, gasoline and diesel price rose in 2021 respectively by 17% and 14%, reaching their highest level since 2012. Prices are 10% above the EU average (2021).

  Graph: GASOLINE & DIESEL PRICES (€/l)

• Energy Consumption

  Consumption per capita is 33% lower than the EU average at 2 toe, 4 700 kWh of which is electricity (15% below the EU average) (2021).

  Graph: CONSUMPTION TRENDS BY ENERGY SOURCE (Mtoe)

  

• Issues & Prospects

  Electricity:

  According to the PARECER 2022-31, power consumption is expected to increase between 0.7%/y and 1.8%/y on average to reach 57 TWh in 2031. REN foresees that the renewables installed capacity will increase to 23 GW by 2031 (around 12 GW for solar and.9 GW for wind).

• GENERAL OVERVIEW
• INSTITUTIONS AND ENERGY POLICY
• ENERGY COMPANIES
• ENERGY SUPPLY
• ENERGY PRICES
• ENERGY CONSUMPTION
• ISSUES AND PROSPECTS
• DATA TABLES
• ABBREVIATIONS
• GLOSSARY

Download the Table of Contents

Below is a list of the Portugal energy market report graphs:

• GRAPH 1: CO₂-energy emissions (MtCO₂)
• GRAPH 2: Installed electric capacity by source (2021, %)
• GRAPH 3: Gross power production by source (TWh)
• GRAPH 4: Power generation by source (2021, %)
• GRAPH 5: Gasoline & diesel prices (€/l)
• GRAPH 6: Electricity prices for industry and households (€c/kWh)
• GRAPH 7: Gas prices for industry and households (€c/kWh GCV)
• GRAPH 8: Consumption trends by energy source (Mtoe)
• GRAPH 9: Final consumption market share by sector (2021, %)
• GRAPH 10: Oil consumption (Mt)
• GRAPH 11: Oil consumption breakdown by sector (2021, %)
• GRAPH 12: Electricity consumption (TWh)
• GRAPH 13: Electricity consumption breakdown by sector (2021,%)
• GRAPH 14: Natural gas consumption (bcm)
• GRAPH 15: Gas consumption breakdown by sector (2021, %)
• GRAPH 16: Coal consumption (Mt)
• GRAPH 17: Coal consumption breakdown by sector (2021, %)

In the Portugal energy market report you will find the following tables:

• Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO₂ emissions.
• Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
• Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
• Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
• Infrastructure Projects: Covers power plant projects by energy, technology, status and operator, gas plant projects by status and operator and LNG contracts.

The Portugal country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.

Data included in the excelsheet:

• Demand: Primary energy consumption, final energy consumption, by fuel, by sector.
• Power: Electricity generation & capacities, by technology.
• CO₂: Total CO₂ emissions.
• Macro-economy: Main macro-economic assumptions.
• Key indicators: Energy intensity, share of renewables, CO₂ emissions per capita and per unit of GDP.