Hydro, wind power generation in Portugal avoids EUR 4.3bn fossil fuel imports in 2005-2012

Mar 27, 2014 - The focus of Portugal on hydro and wind power generation avoided imports of EUR 4.3 billion (USD 5.927bn) of fossil fuels between 2005 and 2012, CEO of domestic energy utility EDP (ELI:EDP), Antonio Mexia, said this week.

Thanks to the investments in hydro and wind power facilities the country reduced its energy dependence on imports to 75% from 85% in the same period, Mexia added.

The renewable energy has positive effects on the reduction of the wholesale electricity prices in Portugal, according to him. The CEO noted that electricity prices paid in Portugal are lower than those in Spain and smaller than the average in the European Union (EU). Mexia added that the costs on transformation are only 2% in Portugal, thus the competitiveness of the electricity generation activities in the country is not threatened.

(EUR 1.0 = USD 1.378)

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