60%
of renewables in the power mix (2020)
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This analysis includes a comprehensive Portugal energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With 2020 market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.
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Highlights
60%
of renewables in the power mix (2020)
+1 GW
of hydropower capacity by 2024
-13%
drop in CO2 emissions in 2020
Abstract
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
Oil:
Galp Energia (Amorim Energia 33%, and Parpublica 7.5%) dominates the oil market. Under a 2012 shareholder agreement, Eni sold its stake in several stages.
Energy Supply
Gas:
Portugal imports all the gas it consumes. Imports reached 5.9 bcm in 2020 (-4.3%), of which 92% (5.4 bcm) were from LNG. Imports reached a peak in 2017 at 6.3 bcm. Previously, they remained between 4 and 5 bcm over 2012-16.
In 2019, gas imports came mostly from Nigeria (54%), followed by the UAE (16%) and Algeria (9%).
Energy Prices
Oil:
The price of petroleum products follows international oil prices. During the first semester of 2021, gasoline and diesel prices increased by 8% and 6%, respectively. Petroleum products prices declined by 7% for gasoline and 9% for diesel in 2020, after rising between 2016 and 2019 (+3%/year for gas gasoline and +6%/year for diesel).
Energy Consumption
Consumption per capita is 31% lower than the EU average at 2 toe, 4 500 kWh of which is electricity (15% below the EU average) (2020).
Graph: CONSUMPTION TRENDS BY ENERGY SOURCE (Mtoe)
Issues & Prospects
Electricity:
According to the PDIRGN 2020-29, power consumption is expected to decrease between 0.6%/year and 4.9%/year on average. REN foresees that the renewables installed capacity will increase to 25 GW by 2030.
Below is a list of the Portugal energy market report graphs:
In the Portugal energy market report you will find the following tables:
The Portugal energy market data since 1990 and up to 2020 is included in the Excel file accompanying the Portugal country report.
It showcases the historical evolution, allowing users to easily work with the data.
Key Data included in the excelsheet:
The Portugal country report is complemented with a national power generation dashboard (excel file) from our Power Plant Tracker Service.
Data included in the excelsheet:
Projections Data (Excel Sheet)
The Portugal country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.
Data included in the excelsheet:
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