Finance: Energy policy news in Portugal

Russian oil: US lifts sanctions for one month

Minister says investment in nuclear energy "makes no sense" in Portugal

After all, who is paying for Vladimir Putin's war?

When the numbers don't help, change the subject.

Von der Leyen announces joint purchases to lower energy prices

The President of the European Commission, Ursula von der Leyen, outlined today measures taken to control energy prices, including joint purchases within the European Union (EU).

Portugal supports joint gas purchasing and strengthening of European refining

The Portuguese government backs collective procurement of natural gas and measures to increase European refining capacity.

TVI16 Oct

Spain should lower 2030 green goal, follow Portugal – analyst

Montel News9 Oct

A European Oil Cooperative

An “OPEC of buyers” seems like a logical response to the organization of producers. The European experience with gas allows one to imagine it and understand why it remains far from simple.

"There should be no generalised subsidies". Von der Leyen rejects support to tackle energy crisis in the EU

In a speech at the European Parliament in Strasbourg, the President of the European Commission announced that countries exporting methane to the 27 member states will have one more year to adjust to EU rules.

Brussels tells Trump that banning diesel exports undermines relations and harms everyone

The European Commission warned on Friday (October 2nd) that a potential US ban on diesel exports would benefit no one and jeopardize Washington's status as a reliable partner. The Commission spokesperson, Anna-Kaisa Itkonen, stated that the EU is prepared to act in a coordinated manner with international partners if necessary, while emphasizing that current fuel supplies remain stable. The warning follows reports that the Trump administration is considering a 90-day export ban to lower energy costs ahead of the midterm elections, a move that has sparked concerns over a potential refining shock.

Minister of Economy asks Portuguese people to avoid consuming fuel whenever possible

The Minister of Economy insists that the Portuguese should avoid fuel consumption whenever possible. A request for savings during a period in which there is increasing scarcity of refined products in the fuel supply market.

Brussels admits several EU countries are calling for European taxation on oil companies' windfall profits

The European Commission acknowledged on Friday, September 18, that several EU member states, including Portugal, are advocating for a European-level tax on the windfall profits of oil companies, while maintaining that countries can already implement such taxes individually. European Commissioner for the Economy, Valdis Dombrovskis, stated in Dublin that the Commission is available to support member states in this process. Meanwhile, Portuguese Finance Minister Joaquim Miranda Sarmento suggested that the Commission could use the Portuguese national methodology as a basis for a potential European solution. Ireland, currently holding the rotating presidency of the Council of the EU, indicated it may ask the Commission to revisit the issue at the formal Ecofin meeting in October.

Without oil or gas in Europe, electrification is “central” to lowering costs, argues commissioner

The European Commissioner for Environment, Water Resilience and Competitive Circular Economy, Jessika Roswall, argues that Europe must continue to invest in electrification as “a central element” to reduce its energy dependence and costs for consumers. The official also argues that Portugal has the opportunity to “be better at circularity”.

EU ministers resume debate today on windfall profits of oil companies

Brussels has been considering that the taxation of windfall profits is a competence of the member states, provided that national measures respect EU law.

Renewables account for 74.4% of electricity produced in Portugal up to August

Between January and August 2026, renewable energy sources accounted for a significant 74.4% share of electricity produced in mainland Portugal, according to the latest bulletin from the Portuguese Renewable Energy Association (APREN) released this Tuesday. In August, the renewable contribution to electricity production was 69.2%, corresponding to 2,298 gigawatt-hours (GWh) out of a total of 3,320 GWh. August was notable for the synergy between solar and wind energy, which together accounted for 23.7% and 23.3%, respectively, of the generation mix. Hydropower took third place with 14.9%, followed by bioenergy, which contributed 7.3%. During the period from January to August, there were 707 hours where renewable energy production was sufficient to cover the total electricity consumption in mainland Portugal. In August alone, this renewable production ensured total consumption for 14 hours. Compared to other European countries, Portugal ranked fourth among the eight analysed, behind Norway (97.4%), Denmark (95.4%), and Austria (79.9%). APREN notes that this comparison includes only the main countries from different European markets to ensure a representative overview. Furthermore, renewable production helped avoid natural gas imports worth 809 million euros and electricity imports totalling 374 million euros between January and August. APREN also estimates savings of 492 million euros in CO2 emission permits. Susana Serôdio, coordinator of Policy and Market Intelligence at APREN, highlights that the August results reflect the importance of complementarity in the electricity mix, with sun and wind working in harmony to produce almost half of the national output. According to the association official, renewable energies have a significant impact on reducing electricity prices and are an important driver of the Portuguese economy.

Galamba attacks PS for wanting to increase tax on renewables

Tax increases on solar and wind power, subsidies for fossil fuels, and silence on electrification. The PS proposals that led the former minister to attack the party and José Luís Carneiro.

Megasa announces investment plan of over 300 million in Portugal following announcement of energy cost support

The company Megasa has revealed a new investment strategy for its Portuguese operations, triggered by the government's recent commitment to subsidise energy expenses.

Jornal Económico10 Sept

Six Member States, including Portugal, asked Brussels for a common framework to tax the windfall profits of oil companies. The Commission replied that the matter is not within its remit.

Six EU countries have requested a unified approach to taxing excess profits from oil firms, but the European Commission has stated it lacks the authority to intervene in this area.

facebook.com31 Aug

Price yes, tax no

Six member states, including Portugal, asked Brussels for a common framework to tax the exceptional profits of oil companies. The Commission replied that the matter is not within its jurisdiction.

Portugal wants European mechanism to tax extraordinary profits of oil companies

In addition to Portugal, five other countries are also requesting the new tax from the EU

Brussels again rules out EU-wide tax on oil company windfall profits

The European Commission today again ruled out the creation of a tax at the European Union (EU) level to levy the windfall profits of oil companies, following a new request from Portugal and five other countries, advocating for national measures instead. “Taxation of windfall profits is a competence of the Member States and they can act based on...

Portugal and five EU countries want to create a more "durable" and "targeted" tax on oil companies

Portugal, Germany, Spain, Italy, Poland, and Austria are calling for a permanent European mechanism to tax the “extraordinary profits” of oil companies. In a letter to the Irish presidency of the EU, the finance ministers argue that current measures are insufficient to address the supply shock caused by the conflict in the Middle East and the Iranian blockade of the Strait of Hormuz. The group seeks a coherent, long-term fiscal framework that can be activated during energy crises, rather than relying on discretionary, ad-hoc measures. The proposal also includes an investigation into refining margins to ensure companies are not exploiting the current price surge.

Portugal and five other countries want European debate on windfall tax

The European Commission has given the 'green light' to a proposal for taxing the windfall profits of energy companies due to the war in Iran, in a decision left to each individual state. However, Portugal and five other countries want to go further and are calling for a 'common approach', requesting that the topic be discussed in September. The position is outlined in a letter...

News Review: Lambrini Girls upset CHEGA, no need for rail competition & cheaper energy spin

In The Resident News Review of August 21, 2026, host Carl Munson and guest Paul Rees discuss… First, the English punk duo Lambrini Girls displayed a provocative anti-CHEGA slogan at The post News Review: Lambrini Girls upset CHEGA, no need for rail competition & cheaper energy spin appeared first on Portugal Resident.

Decarbonising without geopolitical dependence

For years, the transition to a low-carbon economy was presented primarily as a response to climate change, but successive energy crises are shifting this narrative. Decarbonisation now also means reducing external sovereignty vulnerabilities, ensuring competitive energy, and controlling strategic technologies. The transition must solve three equations: carbon, energy security, and competitiveness. While Portugal has a significant advantage in renewable energy capacity, the challenge lies in transforming this into an industrial edge by attracting energy-intensive industries, as Europe risks replacing its dependence on fossil fuels with a new dependence on Chinese-dominated green technologies.

State wants to return to REN. Montenegro believes in cost reduction

The Prime Minister advocated for the State's return to REN's capital. Luís Montenegro claimed that this would allow for lower electricity prices in the long term, but did not explain how.

PCP challenges Government to 'overcome ideological prejudices' and assume public control of REN

The party questioned how much the Spanish firm Pontegadea will earn from the sale of its stake in the company to the Portuguese State.

State’s return to REN could help lower electricity bills, says PM

After all, is Rui Cristina an accused or a victim?

The State's return to REN attracts strong criticism from all sectors. In Albufeira, the mayor is accused of discrimination, but tries to rewrite what he said to present himself as a victim.

What is the government's plan for re-entering REN?

Portugal returns to REN's capital with the acquisition of a 13.7% stake in the energy company. Can the government's objectives be met with this shareholding? A conversation with journalist Ana Suspiro.