Portugal energy report

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 2021 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.

Portugal energy report
November 2022
2 files (PDF report, Excel file)
38 (Report only)

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  • 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.


of renewables in the power mix (2021)

1.2 GW

of hydropower commissioned in 2022


annual reduction in CO2 emissions since 2017


  • 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


    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


    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


    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).


  • 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).


  • Issues & Prospects


    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).

Table of Contents


Download the Table of Contents

List of Graphs

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, %)

List of Tables

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.

Data (Excel Sheet)

The Portugal energy market data since 1990 and up to 2021 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:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Portugal Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Portugal energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).

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:

  • New capacities: Current power mix, installed capacity at date, capacity under construction and under development.
  • Power Sector Performances: Historical data on installed capacity, power generation, thermal power plants inputs, average thermal power plant efficiency, CO2 emissions of the power sector, carbon factor of the power sector.


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:

  • 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.

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