Renewables reduce emissions of 6 million tonnes of CO2 and save 1.3 billion euros of fossil fuel imports

2018, the year in which records were "beaten"

 

In March 2018, renewable production was enough to satisfy the total consumption of electricity in mainland Portugal, with a special contribution from wind and water technologies.

 

In average terms, 2018 was marked by a renewable incorporation in the electric consumption of 55.1%, which corresponds to an increase of 28% over 2017. This fact comes from a higher productivity of large hydro which has double the 2017 values, representing 24.1% of consumption. The wind technology represented a production of 12.3TWh, corresponding to 24.3% of consumption, which made it, for the first time, the largest source of electricity in Mainland Portugal.

 

These levels of renewable incorporation provide great economic and environmental benefits for the Country:

 

  • A saving in imports of fossil fuels of € 1268 M was achieved;
  • There was a reduction between 2017 and 2018 of about 6 million tonnes of carbon dioxide emissions associated with electricity production, from 19.4 million tonnes in 2017 to 13.5 million tonnes in 2018. This reduction represents about 10% of national emissions;
  • It was possible to avoid the purchase of CO2 emissions licenses amounting to € 191 million, corresponding to a total of 12 million tonnes of CO2 equivalent.

 

2018 was marked by:

 

A sharp rise in electricity prices in the spot electricity market, with an average annual value of € 57.4 / MWh, which is about 18% higher than the average value of 2017. This increase was mainly due to:

 

  • Increase in electricity consumption (2.5% above 2017) in mainland Portugal;
  • Increase in the price of the European market for CO2 emissions licenses by 2.7 times compared to 2017, with the average annual value of € 15.9 / tCO2 in 2018;
  • The unavailability of some nuclear reactors in Spain and other European markets, leading to an increase in the price of electricity throughout Europe;
  • Rising of fuel prices compared to last year, by about 34% in natural gas and 15% in coal.