66%
of renewables in the power mix (2021)
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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 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.
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Highlights
66%
of renewables in the power mix (2021)
1.2 GW
of hydropower commissioned in 2022
-8%
annual reduction in CO2 emissions since 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) (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).
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 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:
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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