62%
of renewables in the power mix (2019)
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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 2019 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
62%
of renewables in the power mix (2019)
+1 GW
of hydropower capacity by 2024
+56%
gas consumption from 2014 to 2017
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
Electricity:
EDP, Energias de Portugal, the former national electric utility, is held by China Three Gorges (CTG) (23.3% since 2011), OPPIDUM (7.2%), CNIC (4.34%), BlackRock (5%), Mubadala (3.15%), and other shareholders. CTG's plan to acquire the remainder of EDP's shares (€3.26/share offer, valuing the group at €9bn) was rejected by the other shareholders.
Energy Supply
Oil:
Portugal does not produce oil and, in 2019, imported 12.8 Mt of oil (mostly as crude oil). In 2019, the main crude oil suppliers were Angola (22%), Russia (11%), and Saudi Arabia (11%).
Energy Prices
Electricity:
Electricity tariffs have been stable since 2013 and settled at €11.5c/kWh for industrials and €21.7c/kWh for residential consumers in 2020.
Electricity prices are close to the EU average.
Graph: ELECTRICITY PRICES FOR INDUSTRY AND HOUSEHOLDS (€c/kWh)
Energy Consumption
Consumption per capita is 31% lower than the EU average at 2.1 toe, 4 700 kWh of which is electricity (15% below the EU average) (2019).
Graph: CONSUMPTION TRENDS BY ENERGY SOURCE (Mtoe)
Issues & Prospects
Electricity:
REN estimates that power consumption should rise by 0.3%/year between 2016 and 2022. Given this very low growth prospect, several gas power projects have been cancelled.
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 2019 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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