Electricity prices in Portugal 2022
In 2022, the average wholesale day-ahead electricity price in Portugal was € 0.1686 /kWh. Below is the month-by-month breakdown plus a chart of how prices moved through the year.
Monthly breakdown — 2022
| Month | €/MWh | €/kWh | MW |
|---|---|---|---|
| January 2022 | € 201.97 | € 0.2020 | 6,312 |
| February 2022 | € 200.75 | € 0.2007 | 6,125 |
| March 2022 | € 283.07 | € 0.2831 | 6,013 |
| April 2022 | € 194.05 | € 0.1941 | 5,538 |
| May 2022 | € 187.69 | € 0.1877 | 5,422 |
| June 2022 | € 169.83 | € 0.1698 | 5,512 |
| July 2022 | € 144.09 | € 0.1441 | 5,928 |
| August 2022 | € 157.98 | € 0.1580 | 5,492 |
| September 2022 | € 141.96 | € 0.1420 | 5,563 |
| October 2022 | € 127.71 | € 0.1277 | 5,378 |
| November 2022 | € 116.17 | € 0.1162 | 5,772 |
| December 2022 | € 98.49 | € 0.0985 | 6,057 |
Portugal generates one of the highest renewable shares in the EU: in 2024 wind, solar, hydro and biomass together delivered over 70% of national electricity. REN, the national TSO, operates the PT bidding zone within the MIBEL Iberian market, electrically coupled to Spain via 3.7 GW of cross-border capacity. The country was the first in the EU to retire all coal — Sines and Pego closed in November 2021 — making the system gas + renewables only.
Hydro accounted for 26% of generation in a wet 2024, but Portugal's reservoirs vary widely with rainfall (15–35% range). Solar capacity surpassed 5 GW in 2025, driven by large utility-scale projects in the Alentejo plains; the country plans a 9 GW solar auction by 2030.
The 1 100 MW Tâmega pumped-storage complex commissioned 2022–2024 is among Europe's largest, providing critical flexibility for the high-renewables grid. Day-ahead clearing on OMIE.