The International Energy Agency (IEA) recently commended the Portuguese Republic for the steps it has taken to build up and fortify its energy policy.  Nonetheless, the IEA states that there is still room for improvement. Numerous energy triumphs for Portugal include applying the National Energy Strategy in 2005. This scheme has served a long way towards broadening Portugal’s energy resources and electrical energy propagation portfolio, while also bringing about the country up to encounter that disputes which have been presented by the economic downturn. Read more about Energy Market Landscape: Portugal

Moreover, constituting the Climate Change Commission has not only granted Portugal to adopt measures towards conforming to its responsibilities under the Kyoto Protocol, but it has also contributed to substantial development in the renewable energy sector. At last, Portugal is one of the star IEA member countries for wind and hydro power incursion.

In spite of these successes, the IEA admonishes that government financial backing for the energy sector in Portugal is one of the most depleted amongst IEA member states. The IEA also advocates that Portugal extend clearer leadership and cooperation between the public and private sectors in energy research and development.

Energy Market Landscape: Portugal

The International Energy Agency (IEA) is a Paris-based intergovernmental organization established under the umbrella of the Organization for Economic Co-operation and Development (OECD) in 1974 in the wake of the oil crisis. The IEA was initially dedicated to responding to physical disruptions in the supply of oil, as well as serving as an information source on statistics about the international oil market and other energy sectors. The IEA acts as a policy advisor to its 28 member countries, but also works with many countries outside of its membership, especially China, India and Russia. The Agency’s mandate has broadened to focus on the “3Es” of sound energy policy: energy security, economic development, and environmental protection. The latter has focused on mitigating climate change. The IEA has a broad role in promoting alternate energy sources (including renewable energy), rational energy policies, and multinational energy technology co-operation.