Portugal energy report

• The NECP targets a 45% reduction 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 remained stable since 2010 (around 55%).
• Gas imports grew again between 2017 and 2018, especially for the power sector.
• Electricity prices have been stable since 2014, while gas prices dropped by over 20% since 2014: both are close to the EU average.
• Energy consumption has decreased slightly since 2017.
• Portugal aims to strengthen its electricity and gas interconnections to improve its supply security.
• More than 1 GW worth of new hydropower plants is expected by 2024.

• 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

  Resources:

  Portugal does not have hydrocarbon resources. The country has a good hydroelectric potential (about 32 TWh). Its wind and solar potential is significant.

• 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

  Gas:

  REN's Electricity Transport Network Development and Investment Plan for 2020-2029 (PDIRGN 2020-2029) cut investments for the gas network to €23.7m (from €45m foreseen in the previous version).

• 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 (2019, %)
• GRAPH 3: Gross power production by source (TWh)
• GRAPH 4: Power generation by source (2019, %)
• 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: Total consumption market share by energy (2019, %)
• GRAPH 10: Final consumption market share by sector (2019, %)
• GRAPH 11: Oil consumption (Mt)
• GRAPH 12: Oil consumption breakdown by sector (2019, %)
• GRAPH 13: Electricity consumption (TWh)
• GRAPH 14: Electricity consumption breakdown by sector (2019,%)
• GRAPH 15: Natural gas consumption (bcm)
• GRAPH 16: Gas consumption breakdown by sector (2019, %)
• GRAPH 17: Coal consumption (Mt)
• GRAPH 18: Coal consumption breakdown by sector (2019, %)

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.