More than two-thirds of electricity from renewable sources in May
In May, the average hourly price on the Iberian Electricity Market (Mibel) in Portugal was €76.1 per megawatt hour (MWh).
About 67.4% of the 2,926 GWh (gigawatt-hours) of electricity generated in May in mainland Portugal came from renewable sources, according to data from the Portuguese Renewable Energy Association (APREN), released on Wednesday.
“In mainland Portugal 2,926 GWh of electricity was generated in May 2023, of which 67.4% was of renewable origin,” APREN said in a statement, explaining that the 5.5% increase compared to May 2022 was due to “the 14.6% decrease in fossil incorporation, with 689 GWh having been produced, compared to 1,472 GWh in May 2022.”
The renewable electricity sector avoided the emission of 4.1 MtCO2eq and €887 million and €374 million in the import of natural gas and electricity, respectively, the association said.
In May, the average hourly price on the Iberian Electricity Market (Mibel) in Portugal was €76.1 per megawatt hour (MWh), and this figure stood at 88.5 MWh for the accumulated first five months of the year.
According to APREN, since 15 June 2022, when the Iberian natural gas price cap mechanism came into operation, until 31 May, it generated savings of €28.75/MWh, which was equivalent to a reduction of 14.6% in the average hourly price in Mibel.
In total, 184.4 of the 260.5 terawatt-hours (TWh) produced were subject to the consumer adjustment mechanism in the Iberian Peninsula.
APREN data also indicate that the National Electricity System recorded an import balance of 4,022 GWh between January and May, with electricity exports of 1,506 GWh and imports of 528 GWh.
