January 10 (Renewables Now) - Power from renewable energy sources met about 55.1% of Portugal's electricity demand in 2018, shows data from the Portuguese Association of Renewable Energy (APREN).
The country produced 12.3 TWh of wind power, enough to cover 24.3% of demand. Thus wind ranked as the main source of electricity in mainland Portugal for the first time, followed closely by hydropower with a share of 24.1%.
In 2018, thanks to renewable power plants, the country saved EUR 1.27 billion (USD 1.46m) in fossil fuel imports and reduced by 6 million tonnes carbon dioxide (CO2) emissions from the power sector, APREN stated in its press release.
On the other hand, the average price of electricity in the spot market went up 18% to EUR 57.4 per MWh. This increase was mainly due to higher demand in mainland Portugal, a bump in the price for CO2 emissions licenses in the European market, the unavailability of some nuclear reactors in neighbouring countries and the rise of fuel prices, APREN noted.
(EUR 1 = USD 1.15)