The Opening Session was led by the President of ELECPOR’s Board of Directors, Pedro Vasconcelos, who highlighted Portugal’s energy transition journey over the past 20 years and the sector’s crucial role in driving economic competitiveness. He also addressed current challenges, such as the high tax burden on the energy sector, the need for regulatory predictability, and the urgent requirement for investment in grid infrastructure.

The session also featured an address by the Secretary of State for Energy and Deputy Minister, Jean Barroca, who shared Portugal’s vision as an attractive destination for industrial investment, offering clean, affordable, and stable energy. He emphasised the ongoing transposition of European directives – including EMD and RED III – the preparation of conditions for PPAs between producers and large industrial consumers, and the approval of key investments for system resilience and security as foreseen in the PDIRT-E.

With competitiveness, reindustrialisation, and security of supply as central themes, the event featured three keynote speakers:

• André Anacleto, Partner at McKinsey & Company, underlined the unique opportunity for Portugal to lead Europe’s energy transition and reindustrialisation, estimating a potential +15% increase in GDP by 2030 compared to 2022. He identified key action areas for the country to follow this path. In anticipation of the first panel discussion “The Importance of Electricity Markets for Promoting Investment”, he proposed several ideas for debate, such as: “more sun, less value”; the need to strengthen flexibility markets (voltage, synthetic inertia, reserve, demand response) open to all technologies; and the role of grids and digitalisation as critical enablers.

The first panel discussion, moderated by journalist Pedro Carvalhas, featured Isabel Apolinário (ERSE), Joana Freitas (EDP Produção), Nuno Santos (The Navigator Company), and João Marques Mendes (PLMJ). The debate focused on: electricity markets (particularly the spot market, system services markets, and capacity remuneration mechanisms); energy prices and the relevance of long-term contracting (such as PPAs and CfD auctions) to boost investment and enhance competitiveness; regulatory stability and predictability; and the impact of the tax burden on the electricity sector in Portugal.

• Leigh Hancher, Professor at the Florence School of Regulation, addressed the recent reform of the EU electricity market design from the perspective of system stability and supply security. She highlighted the EU’s increasing focus on strategic energy autonomy across the entire value chain. In anticipation of the second panel discussion “Ensuring Stability of the Electricity System and Supply Security”, she discussed the accelerated integration of renewable energy, the role of flexibility and storage, modernisation and digitalisation of the grids, and the design of capacity mechanisms.

The second panel discussion, also moderated by Pedro Carvalhas, featured Marina Serrano (AELEC), Perfeito Isabel (Turbogás), Pedro Furtado (REN), and Ricardo Bessa (INESC TEC). The discussion focused on the transformation of the energy sector, with electricity generation becoming increasingly decentralised and the resulting implications for system management. The panel also addressed the major blackout that affected the Iberian Peninsula on 28 April 2025, its causes, the coordinated response in Portugal and Spain, and measures to strengthen the resilience and flexibility of the electricity system. Further topics included the importance of system flexibility – particularly the role of storage and the modernisation, renewal, and digitalisation of electricity grids – and the use of capacity mechanisms for supply security, with attention to the differing situations in Portugal and Spain.

• Henrique Burnay, Senior Partner at Eupportunity, spoke on “Reindustrialisation and Competitiveness in the Age of Electrification”, providing context on the forces at play – particularly geopolitical shifts – shaping the policies that matter to the energy sector and the resulting tensions within the EU. He explored the energy transition as a model for economic development and the concern with dependencies as a driving force behind current European policy.

The closing remarks of ELECPOR 2025 were delivered by the Director-General, Maria João Coelho, who, in dialogue with moderator Pedro Carvalhas, offered a brief summary of the key ideas discussed throughout the morning. She concluded by highlighting the importance of the dialogue fostered by the conference among different stakeholders – producers, consumers, regulators, researchers, and policymakers – and the need for cooperation across all parties. The energy transition, electrification, decarbonisation, and security of supply are shared responsibilities.

The ELECPOR 2025 Annual Meeting was formally concluded, with a warm invitation to reconvene in 2026.