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Energy

EDP Renováveis Posts a 36% Q1 Profit Jump to €70 Million on a US-Led Recovery — Capex Cut Almost in Half to €324 Million as Stilwell Steers a Tighter 2026 Capacity Year

EDP Renováveis Posts a 36% Q1 Profit Jump to €70 Million on a US-Led Recovery — Capex Cut Almost in Half to €324 Million as Stilwell Steers a Tighter 2026 Capacity Year

EDPR's Q1 2026 results land at €70 million net profit, up 36%, with €489 million recurring EBITDA and 20.5 GW of installed capacity. The number behind the headline is the capex cut — investment falls roughly 50% from €610M to €324M as the group reweights toward US growth at lower opex.
The Portugal Brief
Maria da Graça Carvalho Pre-Announces a Plan to 'Substantially Reduce' Portugal's Fossil-Fuel Dependence — 80.7% Renewables Electricity Already, ZAER the Operative Lever, Heavy Transport, Maritime and Aviation in the Renewable-Liquid-Fuels Channel

Maria da Graça Carvalho Pre-Announces a Plan to 'Substantially Reduce' Portugal's Fossil-Fuel Dependence — 80.7% Renewables Electricity Already, ZAER the Operative Lever, Heavy Transport, Maritime and Aviation in the Renewable-Liquid-Fuels Channel

Maria da Graça Carvalho says the government will present 'very soon' a plan to substantially reduce Portugal's fossil-fuel dependency. With 80.7% of January electricity already renewable, the gap is transport and industry. ZAER zones are the lever — e-fuels the channel for ships and aviation.
The Portugal Brief
Miranda Sarmento Confirms a Special Tax on Energy Companies' Extraordinary Profits — Government Will Calibrate the 2022 Contribuição Solidária Temporária Template and Walk a Bill Into Parliament 'A Breve Trecho' as Hormuz Lifts Diesel Past €2/L

Miranda Sarmento Confirms a Special Tax on Energy Companies' Extraordinary Profits — Government Will Calibrate the 2022 Contribuição Solidária Temporária Template and Walk a Bill Into Parliament 'A Breve Trecho' as Hormuz Lifts Diesel Past €2/L

Finance Minister Joaquim Miranda Sarmento confirmed on Tuesday a special tax on energy companies' extraordinary profits, calibrating the 2022 Contribuição Solidária Temporária template to the Hormuz fuel-price spike. Rate and revenue 'premature'; bill to Parliament 'a breve trecho'.
The Portugal Brief
Diesel Up 10 Cêntimos and Gasoline 95 Up 6.5 Cêntimos at the Pump From Monday — €1.993/L Gasolina and €2.055/L Gasóleo Simples on a Hormuz-Tracking Brent Tape, Portaria 204-B/2026 Adds 1.5 Cêntimos of ISP Discount on Diesel

Diesel Up 10 Cêntimos and Gasoline 95 Up 6.5 Cêntimos at the Pump From Monday — €1.993/L Gasolina and €2.055/L Gasóleo Simples on a Hormuz-Tracking Brent Tape, Portaria 204-B/2026 Adds 1.5 Cêntimos of ISP Discount on Diesel

Pump prices for 5-10 May lift gasolina 95 to a national average €1.993/L and gasóleo simples to €2.055/L. Portaria 204-B/2026 (effective 4 May) raises the diesel ISP discount to 7.54 cêntimos/L. Brent's $114→$126 Hormuz move is the driver.
The Portugal Brief
Brasília's ANP Approves Galp's Berbigão and Sururu Unitization Agreements Eight Years After Submission — The Portuguese Producer Settles at 6.45% in Berbigão and 9.497% in Sururu of the Pre-Sal Block BM-S-11A That Has Been Pumping Since 2019

Brasília's ANP Approves Galp's Berbigão and Sururu Unitization Agreements Eight Years After Submission — The Portuguese Producer Settles at 6.45% in Berbigão and 9.497% in Sururu of the Pre-Sal Block BM-S-11A That Has Been Pumping Since 2019

Brazil's Agência Nacional do Petróleo cleared Galp's eight-year-pending unitization for Berbigão and Sururu on 4 May 2026. Galp's stake settles at 6.45% / 9.497% — and the Lisbon producer says financials already book the change since Q3 2022.
The Portugal Brief
Portugal's Electricity Consumption Climbs 3.5% Through April 2026 — REN Reads a Demand Story Built on a Cold February, an Industrial Rebound, EV Stock and a Data-Centre Pipeline

Portugal's Electricity Consumption Climbs 3.5% Through April 2026 — REN Reads a Demand Story Built on a Cold February, an Industrial Rebound, EV Stock and a Data-Centre Pipeline

REN: Portugal's electricity consumption rose 3.5% in January-April 2026 versus 2025. Evening analysis of the four demand drivers — cold February, industrial rebound, EV stock, data-centre pipeline — and what they mean for grid CAPEX, MIBEL and the RED III file at the Court of Justice.
The Portugal Brief
Aviation Kerosene Set to Peak at $211.7 a Barrel in May — S&P Global Sees a 114% Two-Month Jump on Hormuz Disruption as Goldman Warns Europe's Jet-Fuel Stocks Could Drop to a 23-Day Cover and the Government Flags an End-August Shortage Risk

Aviation Kerosene Set to Peak at $211.7 a Barrel in May — S&P Global Sees a 114% Two-Month Jump on Hormuz Disruption as Goldman Warns Europe's Jet-Fuel Stocks Could Drop to a 23-Day Cover and the Government Flags an End-August Shortage Risk

S&P Global Ratings projects aviation kerosene will peak at $211.7 per barrel in May 2026 — up 114 percent in two months. Goldman Sachs sees Hormuz disruption taking 500,000 b/d offline with 23 percent of European jet-fuel exposure in play, and Lisbon has flagged an end-August shortage risk.
The Portugal Brief