The price of natural gas could rise in October this year on the regulated market, at a time when a historic value has been reached in the supply of renewable energy for electricity consumption.
Renewable sources reached a historic value in Portugal after supplying almost 90% of the country’s electricity consumption between January and March. According to REN, it is the highest value in a first quarter in the last 54 years.
The main culprits were hydroelectric energy (47%) and wind energy (31%), helped by the abundance of rain and wind, but photovoltaics and biomass also contributed with 6% and 5%, respectively.
The solutions in view
In March alone, 91% of electricity consumption resulted from renewable energy, but solutions are already in sight for the summer months.
“We will install the three technologies: wind, solar and hydro in sufficient quantities to adapt this available power to the specificities of the climate in each season. We hope to capture the maximum amount of renewables between rain and wind in winter and wind and sun in summer and spring “, reveals Pedro Amaral Jorge President of the Portuguese Renewable Energy Association.
Natural gas price expected to rise
This is a good sign for the Portuguese wallet, as they can start paying more for natural gas. Between October 1st of this year and September 30th of next year, the price of natural gas could rise by almost 7%. In practice, increases between 87 cents and 1.66 euros.
The sector’s regulatory body justifies this increase with lower demand in the national market, which increases infrastructure costs.
The proposal has already been submitted to the Tariff Council, but the final decision is up to the Energy Services Regulatory Entity (ERSE) by June 1st. The increase could affect the approximately 444,000 consumers who are part of the regulated market.
