Overview

The government of Portugal is to be commended for the successful introduction of natural gas into the energy mix. Natural gas will reduce Portugals high dependence on imported oil and provide greater diversity of energy supply. The new underground storage facility at Carrico and the liquefied natural gas terminal at Sines will also enhance security of supply. At the same time market liberalisation and the stated intention to create an Iberian gas market, while important and commendable steps, will result in new challenges for the gas industry, which have to be carefully addressed. Portugals electricity market remains largely regulated and is still dominated by one company. The political initiatives to establish an Iberian electricity market with Spain and to fully liberalise the domestic markets are important steps in creating a competitive market. However, the progress is behind schedule and new legislation is needed in both countries to make them compatible. Progress towards compliance with the IEA emergency rules has been made. Full achievement of this must be carefully monitored. In contrast with most other IEA member countries, energy demand in Portugal is growing faster than the economy. This is a matter for concern. While Portugals climate policy now relies heavily on renewable energy sources, it will be necessary to pay equal attention to demand-side measures and devise a better energy efficiency strategy as greenhouse gas emissions are growing rapidly.

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9781280172618

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