Latest news and stories about energy prices in environment in Portugal for expats and residents.
The price of Brent crude has climbed above 100 dollars per barrel following Houthi attacks on Saudi oil tankers in the Red Sea. This two-month peak threatens to stall disinflation efforts and increase energy costs for consumers in Portugal.
EU leaders are meeting in Brussels to address soaring energy prices, negotiate the community budget, and coordinate support for Ukraine, though no concrete measures are immediately anticipated pending an official European Commission proposal.
Natural gas prices in the regulated market have increased by an average of 6.4% for the 2026-2027 gas year, impacting approximately 431,000 customers.
Wholesale electricity prices in the EU rose by 22.8% between February and August, significantly trailing the 88.4% surge in gas prices during the same period of geopolitical tension.
ERSE has announced a 2.7% average increase in regulated electricity bills starting October 1st, citing rising energy costs driven by geopolitical tensions as the primary factor.
European natural gas prices have surged to their highest levels since January 2023, driven by escalating Middle East tensions and concerns over maritime transit through the Strait of Hormuz, further fueling inflationary pressures and potential interest rate hikes.
Portugal ranks fifth among EU nations for the proportion of its budget allocated to energy support measures.
Smaller energy retailers are increasingly opting for shorter contracts to mitigate risks associated with geopolitical instability, such as the conflict in Iran, according to insights from the comparison service Manie.
The implementation of windfall profit taxes on energy companies remains a contentious policy, with experts questioning its effectiveness in mitigating the real-world impacts of the ongoing energy crisis.
The closure of the Strait of Hormuz exposes Europe's new energy vulnerabilities, as its shift from Russian gas to global LNG imports has created a fragile dependence on volatile maritime routes, threatening industrial stability and energy security.
Electricity prices during daylight hours have plummeted to near-zero levels, yet this significant shift in energy economics remains largely overlooked by the public and media.
The 'Solidarity Gas Cylinder' programme, originally launched in 2022 to offset rising energy costs caused by the war in Ukraine, has been officially relaunched to provide continued financial support for families.
The Portuguese Ministry of Environment reports that while there is no immediate risk of supply failure, the country is nearing the criteria for declaring an energy crisis due to rising fuel costs.
Brent crude oil prices climbed 5% to exceed $113 per barrel following retaliatory infrastructure strikes between Israel and Iran, raising concerns over global energy security and the Strait of Hormuz.
The military escalation in the Middle East, particularly the conflict in Iran, is exerting immediate pressure on global energy markets, leading to rising electricity prices in the Iberian Peninsula. Experts warn that the duration and severity of the conflict will significantly influence energy prices, with predictions of oil prices potentially reaching $90 to $100 if the situation persists. This escalation poses challenges for public finances in Portugal, as rising fuel and gas prices complicate economic stability.
Portugal's natural gas reserves are at full capacity as Europe faces potential energy shortages during the winter.
The Brent futures contract asset. The benchmark contract for the European market rose to its highest value since late April, driven by fears that the US might attack Iran again after the Houthis, Iran's allies in Yemen, carried out attacks on Saudi targets. The escalation...
The Brent futures contracts asset. The oil benchmark for the European market climbed to 111.99 dollars per barrel during Tuesday's session, recording its highest value since May 18. The milestone was reached at 12:37 PM Lisbon time, representing a 2.2% increase in the barrel price.
The Minister of Environment states that Portugal must persist with electrification strategies to maintain affordable energy prices.
European Commission President Ursula von der Leyen outlined today measures taken to control energy prices, including joint purchases within the European Union (EU).
The President of the European Commission mentioned, among the agreed measures, “the release of 100 million barrels of oil and diesel over the next four months.”
The 27 member states instructed the President of the European Commission to present concrete proposals with a sense of urgency to mitigate energy prices, and the President of the European Council to proceed with attempts at reconciliation between those who want budget cuts and those who will not accept less funding for cohesion and agriculture.
Leaders of the 27 member states stressed that the current situation urgently requires a coordinated European response, based on targeted and temporary measures, taking into account the circumstances of the individual states.
Energy prices have soared due to the war launched by Israel and the United States against Iran, which has spread throughout the region and disrupted, among other things, oil trade.
The global fuel crisis is penalising companies and consumers, but the diesel shortage is opening up prospects for historic profits for Western refineries.
Brussels justifies the measure by pointing out that the EU is preparing “for a difficult winter, marked by high energy prices.”
The prices for the gas contract that serves as a benchmark in Europe, the Title Transfer Facility (TTF), have been on an upward trajectory for six consecutive sessions and are at worrying levels, according to market experts consulted by ECO/Capital Verde, considering the potential economic impact of gas prices. The pressure on prices occurs at a time...
An inquiry into whether 75% of the electricity generated in Portugal originates from renewable energy sources.
European gas prices above €70/MWh, tensions in the Strait of Hormuz, and a drop in renewables are pushing electricity to highs reminiscent of the post-pandemic crisis.
Spain's energy prices are becoming significantly higher than those in Portugal, increasing the economic disparity between the two countries.
Wholesale electricity prices in the European Union rose by 22.8% between February and August, a period coinciding with the conflict between the US and Iran, while gas prices increased by 88.4%, according to the Eurelectric barometer. The annual report indicates that the European electricity system withstood the geopolitical tensions of 2026 better than fossil fuels, thanks to the greater share of clean energy in electricity production. However, the association warns that the EU needs to accelerate investments in storage, grids, and flexibility to further reduce its exposure to gas price fluctuations. The difference was particularly striking during the first months of the crisis: between February and May, following the initial blockade of the Strait of Hormuz, the price of gas on the European benchmark TTF index rose by 41%, while the average electricity price in the EU fell by 7%. Among the examples of greater resilience, Eurelectric highlights Spain, whose high wind and solar production helped keep electricity prices relatively low after the initial impact, whereas in Italy, a country more dependent on gas, prices remained high. Eurelectric Secretary-General Kristian Ruby stated that 2026 saw severe disruptions in global energy markets, highlighting the risks of relying on imported fossil fuels, and added that clean electricity is delivering results amidst this turbulence. The trend shifted during the summer as heatwaves increased electricity demand, reduced hydroelectric production in Nordic countries, and limited nuclear power plant availability due to high river temperatures, low water levels, and maintenance operations. These factors pushed electricity prices up, though significantly less than gas, which increased nearly four times as much as electricity between February and August. Nevertheless, the growth of renewable energy presents new challenges, leading Eurelectric to call for accelerated development of storage. The EU had approximately 64 gigawatts (GW) of large-scale capacity in 2025 and has another 78 GW planned, but even if all these projects are completed, it would still fall short of the European target of 200 GW by 2030. The association also calls for streamlined permitting for grids, storage, and clean generation, increased incentives for demand flexibility, and a stable investment framework to advance the electrification of the European economy. Europe hits a record for renewable energy production in the first quarter.
