Latest news and stories about energy sector in Portugal for expats and residents.
The Constitutional Court faces internal conflict as recent rulings validate CESE charges for natural gas companies, directly contradicting a previous plenary decision that deemed the tax unconstitutional.
Lisbon’s PSI index has carried 2025’s strong finish into 2026, with retail, banking and energy stocks drawing the biggest investor interest despite recent volatility tied to global geopolitical developments. Analysts argue the index remains well positioned for another positive year, though they warn that elevated macro and geopolitical risk could produce bouts of market turbulence and uneven sector performance.
The Spanish energy company Iberdrola reported profits of 1,711.3 million euros in the first quarter of the year, 15% less than in the same months of 2025, the company announced this Wednesday, the 29th. According to Iberdrola, excluding extraordinary impacts related to the sale of assets in Mexico and other operations, profits in the first three months of the year amounted to 1,865 million euros, an increase of 11.4%. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) up to March were 4,067 million euros, 10% less than in the first quarter of 2025. Iberdrola announced an improvement in its forecasts for this year and now estimates growth of over 8% in recurring profits (excluding extraordinary capital gains from asset sales). The Spanish energy group Iberdrola, which is present in Portugal, had profits of 6,285 million euros in 2025, a rise of 12.0% compared to the previous year. Iberdrola's profit grows 12% to 6.3 billion in 2025.
Galp closed the first quarter of the year with an adjusted profit of 272 million euros, a 41% increase compared to the same period last year, supported by the rise in oil and natural gas production in Brazil.
In March, European experts concluded that the incident resulted from multiple technical factors, without assigning legal responsibilities, deferring that assessment to national authorities.
If the event is declared extraordinary, there may be no grounds for the payment of compensation or indemnities.
Green light for member states to create a tax at the national level. A common rate for all European Union countries, as advocated by the Portuguese Finance Minister, is unlikely to move forward.
In 48 days of war in the Middle East, there were at least 13 increases (and one solitary cut) in target prices, a new record share price, and a 6.81% appreciation. Galp has no direct exposure to crude production disruption in the Persian Gulf, but the Portuguese oil company's shares have benefited from rising prices.
The president of the National Entity for the Energy Sector (ENSE), Alexandre Fernandes, stated this Tuesday that Portugal has oil product reserves for 82 days, stressing that these are “non-commercial reserves, available for times of crisis.” In the oil component, Portugal previously had about 92 days of reserves — more than...
EDP aims to position itself as one of the leading users of artificial intelligence (AI) in the energy sector, at a time when the technology has moved from the experimental phase to large-scale application. In the sixth episode of the .IA Podcast (which you can watch at the end of this article), Nelson Pinho, global head of digital & AI...
The Minister of Finance has now proposed taxing ‘excessive’ energy profits. Montenegro was critical of this in 2022.
Galp is falling by nearly 8%, hindering more ambitious gains on the Lisbon stock exchange, but it is not the only oil company in freefall. Repsol and other sector players are also yielding in the same vein. This follows the price of a barrel of oil tumbling due to the agreement in Iran.
Portugal, Spain, Italy, Germany, and Austria want the EU to resume taxing windfall profits in the energy sector. Are we going to fall into the demagoguery of promising taxes that fall from the sky?
Portugal, Spain, Italy, Germany, and Austria are the five countries that have already asked Brussels to re-tax the extraordinary profits of the energy sector. 'Those who profit from the consequences of the war must pay their share,' they argue.
As recently reported, a joint initiative by Germany, Italy, Spain, Austria, and Portugal has advocated for the need to reintroduce a form of excess profits taxation in the energy sector. Currently, the backdrop is no longer the crisis triggered by the war in Ukraine and the subsequent gas price shock, but...
Temporary contributions on the energy and food distribution sectors generated tax revenues of five million euros in 2023. The then-government had forecast revenues of 50 to 100 million.
The solidarity contribution, as it was called by the António Costa government, was in effect during 2022 and 2023, but yielded little for the State coffers.
The Constitutional Court has once again declared the application of the Extraordinary Contribution on the Energy Sector (CESE) to oil companies unconstitutional, deepening a jurisprudential trend that, since 2023, has significantly limited the scope of the tax — but the issue is far from settled within the court itself. The decision now announced, regarding...
The Prime Minister believes there is a “great correspondence” between the call for structural reforms made by former President of the Republic Aníbal Cavaco Silva and the measures just announced for the energy sector and within the scope of the housing package. At the end of the Council of Ministers meeting, Luís Montenegro states...
Former EDP administrator Pedro Vasconcelos will become the new executive vice-president of the French company Engie on June 1st, and will take over the leadership of the Renewable & Flex Power division on July 15th. The Portuguese manager will succeed Paulo Almirante, becoming responsible for one of the most relevant areas of the French company, and...
Santarém Court rules that the administrative offence is already time-barred. The Competition Authority will appeal and is considering filing a complaint against the judge.
The Spanish Masaveu family has once again strengthened its position in EDP by acquiring 1,043,305 shares for 4.4 million euros, according to a statement released on the Portuguese Securities Market Commission (CMVM) website. The shares were acquired between March 20 and 24 by the company Masaveu Internacional, S.L., which is controlled by the family.
The president of ENSE states that the national emergency network of 300 fuel stations, which is activated during crisis situations such as blackouts or lorry driver strikes, must be re-evaluated in light of the current context.
The chief executive of the Spanish energy company Endesa, José Bogas, will step down on April 28, the company announced to the Spanish National Securities Market Commission (CNMV). José Bogas, who has been CEO of Endesa for 12 years, will leave the position after the shareholders' meeting scheduled for April 28, but will remain connected to the company as an external advisor, according to the energy firm. Born in 1955, José Bogas has already passed the retirement age for executive positions at both Endesa and the Italian group Enel, which controls the Spanish energy company, sources cited by the EFE news agency said. It is currently unknown who will be the new CEO of Endesa. Before becoming chief executive of Endesa, José Bogas was the company's general manager in Spain and Portugal for a decade. Endesa, which recorded profits of 2.198 billion euros last year, 16.4% more than in 2024, is the largest Spanish electricity company and the second largest in gas distribution in Spain. In Portugal, it produces and distributes electricity and won the tender for the conversion of the Pego power plant (Abrantes), with an investment project of 600 million euros. Construction of the Pego project is scheduled to begin in 2027, the company revealed at the end of February. Endesa also has solar energy generation projects in Portugal. Endesa states that the Pego project is in the 'permitting phase'.
In 2025, Galp Energia spent 1.5 million euros on three former CEOs. Carlos Gomes da Silva was entitled to variable remuneration despite having left the oil company in 2021.
Over the next three years, the European Investment Bank will make more than €75 billion available to help the European Commission attract private capital for power grids, bank financing for the energy sector, small nuclear reactors, and energy efficiency technologies.
Duarte Bello, currently CEO of EDP Europe, will assume the duties previously held by Pedro de Vasconcelos, a director who resigned from EDP's executive board this Monday and will leave the company at the end of April. According to an official source from the energy company, Bello will also take on responsibility for the Iberian Peninsula region.
EDP executive board member Pedro Vasconcelos has resigned from his role, effective April 30, 2026, according to a statement released by the utility company to the market on Monday night. Vasconcelos has been with the EDP group for 19 years and has served on the executive board, led by Miguel Stilwell de Andrade, for the past three years, overseeing operations in Iberia. The company expressed its gratitude for his contributions. In a separate note, EDP confirmed that it has restored power to 100% of customers affected by recent storms.
Director Pedro de Vasconcelos has resigned from the executive board of directors at EDP, effective April 30. The manager had been with EDP for 19 years, had served as an executive director only since April 2023, and, according to information obtained by ECO, will soon announce the start of a new role elsewhere.
The article from Jornal de Negócios highlights key financial and economic updates relevant to Portugal and the Eurozone. It discusses the energy sector's developments within the Eurogroup, along with other significant economic indicators and market movements. The coverage includes insights into Portugal's economic policies, market trends, and key sectors such as energy, banking, and industry, providing a comprehensive overview to help readers start their day informed about Portugal's economic landscape.
