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Photovoltaic Portugal 2019

13 de agosto de 2019

In this article we want to analyze the energy market of our neighboring country, Portugal.

EVOLUTION OF PHOTOVOLTAIC CAPACITY INSTALLED IN PORTUGAL

IRENA Renewable Capacity Statistics 2019, places Portugal in the 17th place in European countries (including the EU-28) with respect to the accumulated PV.

The graph shows the gradual increase in photovoltaic capacity installed in Portugal in the last decade. As it seems and we will see something later, as of 2018 these figures can increase significantly.

Solar Power Europe 2019 presents the following graph that reflects the addiction capacity of the European photovoltaic markets in the 2018-2023 period. Portugal has a 3% share with 1085 MW, of the total 25.4 GW expected to grow. Among European countries, Portugal is ranked number 8 in the new expected capacity for increase in the 2019-2023 period.

EVOLUTION OF CO2 EMISSIONS IN THE PORTUGUESE COUNTRY.

See Kyoto article (03/07/2017) of this blog, where different data about Portuguese emissions are collected.

If we make a pause to check the last two years, according to BP, we will see that there is a notable decrease between 2017 (57.0) and 2008 (53.7), with Portugal presenting 0.2% share of total global emissions, while that the European ones represent 12.5% of the latter.

IBERIAN ELECTRICITY MARKET.

Spain and Portugal share the same Iberian electricity market (MIBEL) that is organized as follows:

MIBEL: Mercado Ibérico de Electricidad

OMIP is part of the OMI Group, which also includes OMIClear, the Iberian Energy Clearing House, and OMIE, Iberian electricity spot market. As an institution, both OMIP and its activity are supervised by CMVM (the Portuguese Securities Market Commission), in accordance with the applicable national and European laws and regulations of the financial sector.

OMIP manages the Electric Energy Derivatives Market since July 2006.

OMIE manages the wholesale market (spot) of electricity in the Iberian Peninsula.

Since July 1, 2011, in compliance with the Mibel agreement, OMIE performs all the functions developed by OMEL.

OMEL is the company holding shares, according to the MIBEL agreement, based in Spain.

During 2018, 95% of the time the price of electricity was the same in Spain as in Portugal, which shows a high price convergence between both areas, however between Spain and France this figure only reached 27.5 % Of the hours.

PORTUGAL-SPAIN COMPARATIVE.

As of August 1, 2019. According to businessinsider.es: “Spain produced in 2018 35% less energy from renewable sources than Portugal”

In the Portuguese market, 75% of electricity consumption came from renewable energy in 2018

In Spain, electricity from clean energy accounted for 40% (taking into account that the sun tax had not yet been repealed).

PRESENT OF PORTUGUESE RENEWABLE.

The RENEWABLE ELECTRICITY IN PORTUGAL REPORT, edited by APREN, (Portuguese Association of Renewable Energies) in December 2018 presents the most current data on Portuguese renewables that we have managed to detect * and from which we extract the most highlights:

RES participation in the country's electric mix.

2018 recorded an incorporation rate for renewable energy sources (RES) in the electricity production mix, of approximately 53.1% (29.30 TWh), within an annual electricity production of 55.13 TWh. (…) This value reflects a 26% increase in the representation of the RES, compared to the 2017 value.

Constitution of the electric mix.

Seen in another graph, the photovoltaic solar energy represents 1.5%.

“The demand for electricity has been reflecting an upward trend since 2016, with an average annual growth rate of 1.3%. This can be the result of an increase in electrification and some improvements in the economic situation of the country. ”

Savings on fossil imports and CO2 emissions.

The RES avoided the total emission of 12 MtCO2eq, which resulted in savings of around € 191 million.

The incorporation of RES in the combination of electricity resulted in a total saving of 1.459 billion euros in fossil fuel imports and carbon emission rights.

A saving of 1,268 million euros in fossil fuel imports.

A saving of 191 million euros in subsidies for CO2 emissions.

Import / Export (we understand with France and with Spain).

International trade reflected a net export balance of 2.6 TWh, which represents 4.7% of the continent's electricity production. Despite the annual export trend, in some months (February, May and October), electricity imports were predominant.

Prices.

The annual average of the daily MIBEL market prices in Portugal were 57.5€ / MWh, which reflected an increase of 9.6% over last year's value.

This year, high prices were registered within the daily MIBEL market, the annual average price being € 57.5 / MWh for the Portuguese market. The increase in prices was driven by technical and economic factors such as: the increase in demand for electricity, the increase in prices of basic products, including carbon emission rights and the interruption of European nuclear power plants.

Mention that March 2018 registered the second highest value for the monthly demand for electricity and the minimum value for the monthly price of the electricity market (€ 39.75 / MWh). In addition, in this month, RES production was sufficient to supply the demand.

Trends and future perspectives.

Renewable technologies are quite important to achieve the objectives established in the Paris Agreements, as well as the objectives of the country established in the Portuguese carbon roadmap of 2050 (RNC2050).

Other important energy policies:

1) RES-E objective of 80% by 2030 and 100% by 2050;

2) Energy efficiency measures, with an objective to reduce the demand for electricity (compared to 2015 values) of 30-31% by 2030 and 41-44% by 2050;

3) Greater integration of RES in the transport sector (27-30% by 2030 and 100% by 2050);

4) Greater integration of RES in the heating and cooling sector (34-37% by 2030 and 69-72% by 2050) .

Later we detected the Global Data report: Solar photovoltaic (PV) in Portugal, Market Outlook to 2030, Update 2017 - Capacity, Generation, Levelized Cost of Energy (LCOE), Investment, Regulations and Company Profiles

In the next article we will analyze the evolution of the Feed-In Tariff (FIT) and the current panorama with the auction convened in July 2019.

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