{"id":"portugal","rid":"PT","name":"Portugal","flag":"🇵🇹","group":"europe","type":"market","parent":null,"regions":null,"tier_range":null,"tier":2,"tier_name":"Strong","score":57,"pillar_score":64,"pillar_tier":2,"pillar_tier_name":"Strong","reliability":{"assessed":true,"level":"elevated","dock":7,"provisional":false,"confidence":"High","delivery_transmission":{"level":"elevated","measure":"event-based","note":"Swept up in the April 28, 2025 Iberian blackout, which cut power across mainland Portugal for about ten hours when the Spanish grid collapsed, since Portugal is tightly coupled to the Spanish system.","sources":[{"label":"2025 Iberian blackout, ENTSO-E expert panel","url":"https://www.entsoe.eu/news/2025/10/03/28-april-blackout-in-spain-and-portugal-expert-panel-releases-comprehensive-factual-report/"}]},"delivery_distribution":{"level":"none"},"forward_capacity":{"level":"watch","measure":"modelled","note":"Reliability is tied to the Spanish system and to the shared reforms following the 2025 event."},"read":"Reliability flags found","level_means":"reviewed; flags found"},"reliability_dock":7,"regulatory_momentum":null,"scheduled_changes":null,"queue":null,"friction":null,"connection_pathway":null,"service_evidence":{"contractual_service_held":false,"local_capacity_state":"not_assessed","local_capacity_depth":0,"cost_basis":null,"territory_count":0},"reliability_metrics":null,"forward_cost":null,"tariff":null,"realized_cost":null,"cost_availability":{"label":"Standardized cost observable","means":"A comparable recurring-cost band can be built from observable, applicable inputs for the standard archetype, but PowerGridIQ does not publish one for this market yet.","user_action":"There is no band to use here today. The inputs are observable, so this is our work to finish rather than evidence you need to gather -- do not engage the utility on our behalf, and do not treat the absence as a finding about the market. Read cost_evidence_state.remedy for what is outstanding.","class":"standardized_observable","band_published":false},"cost_evidence_state":{"state":"applicable_evidence_incomplete","answerable":"conditionally","label":"Applicable, evidence incomplete","means":"The archetype can buy the service and the band is sound, but some published figures do not yet carry their own source, date, method and confidence.","remedy":"Finish the per-line provenance. No new access or negotiation is required.","also_holds":[],"vocabulary_version":"evidence-state-1.0"},"jurisdiction_evidence":null,"cost_structure":null,"cost_withdrawn":null,"cost_correction":null,"carbon_correction":null,"carbon_official_reference":null,"partial_cost_verified":null,"cost_pillar_calculation":null,"evidence":{"source_reliability":"Moderate","coverage":"Partial","coverage_dimensions":1,"last_reviewed":"June 2026","measured_layers":0,"data_layers":1,"layers":[{"layer":"PGIQ Rating opinion","method":"opinion","vintage":"June 2026","freshness":"Current","source_url":"https://powergridiq.com/methodology"},{"layer":"Reliability review","method":"historical","vintage":"2025","freshness":"Fresh","source_url":"https://www.entsoe.eu/news/2025/10/03/28-april-blackout-in-spain-and-portugal-expert-panel-releases-comprehensive-factual-report/"}]},"outlook":"Positive","confidence":"Med","under_review":false,"thesis":"Cheap renewables and an open, welcoming market with a marquee build (Start Campus at Sines). A real riser on the Iberian peninsula.","pillars":{"access":68,"availability":68,"cost":62,"momentum":50,"carbon":78},"pillar_rationale":{"access":"Open and welcoming; a major Sines campus anchors the market.","availability":"Good availability with strong renewables.","cost":"Competitive cost.","momentum":"Building momentum.","carbon":"Clean-ish (~130-150 g)."},"offtake_opportunity_index":78,"demand_hunger":42,"build_feasibility":68,"supplier_signals":{"bess_arbitrage_usd_mwh":40,"bess_arbitrage_pct":62,"solar_capture_pct":94,"wind_capture_pct":101},"outlook_drivers":{"upgrade":["Sines and follow-on projects scale.","Atlantic cable connectivity attracts tenants."],"downgrade":["Small-market scale.","Connection constraints."]},"risks":["Scale.","Connection capacity."],"peers":{"like":"Spain (cheap Iberian solar)","ahead":"on openness","behind":"Spain on scale"},"sources":[{"label":"Europe data-center market","url":"https://www.cushmanwakefield.com/en/insights/emea-data-centre-update"}],"latest_action":{"date":"June 2026","type":"New rating","note":"New rating: Tier 2 Strong assigned.","trigger":null},"grid":{"price_usd_mwh":65,"carbon_intensity_g":125,"renewable_pct":76,"renewable_generation_share_pct":76,"low_carbon_generation_share_pct":76,"fuel_mix":{"hydro":28,"wind":27,"solar":14,"gas":22,"biofuel":7,"coal":2},"demand_mw":7200,"capacity_mw":22000,"imports_mw":1000,"exports_mw":2000,"firm_capacity_mw":null,"firm_capacity_availability":"insufficient_evidence","firm_capacity_basis":null,"est_peak_mw":10224,"firm_headroom_mw":null,"firm_headroom_availability":"dependency_unavailable","peak_stress_pct":null,"peak_stress_availability":"dependency_unavailable","adequacy_required_input":"capacity_mix_mw with a declared basis, or an official dependable or accredited capacity from the operator","price_cycle":"other","price_basis":"not_reviewed","price_absent_reason":null,"price_source":"modelled-baseline","price_as_of":null,"price_vintage":"undated_modelled_baseline","price_is_live":false,"carbon_intensity_unit":"gCO2eq/kWh","carbon_measurement_boundary":"operational_combustion","carbon_calculation_method":"structural_estimate","carbon_emission_factor_source":null,"carbon_basis_withdrawn":true,"carbon_imports_treatment":"not_accounted","carbon_provenance_state":"structural","carbon_decision_eligibility":"insufficient_evidence","carbon_confidence":"low","source":"modelled-baseline"},"evidence_depth":{"use_case":"project_case","use_case_label":"Standardized Project Case","overall":"not_assessed","overall_permits":"Not assessed. Treat as an open diligence item; absence of a finding is not evidence of low risk.","insufficient_evidence":true,"unassessed_required_fields":["cost","connection"],"project_ready":false,"blocking_fields":["cost","connection","reliability"],"fields":{"cost":"not_assessed","connection":"not_assessed","reliability":"M2 Compiled","carbon":"M2 Compiled","regulatory":"not_assessed","local_capacity":"not_assessed"},"by_use_case":{"discovery":{"label":"Discovery and monitoring","matrix_version":"1.0","tier":"not_assessed","ready":false,"blocking_fields":["cost","connection"],"insufficient_evidence":true,"why":"not assessed here: cost, connection"},"market_comparison":{"label":"Market comparison","matrix_version":"1.0","tier":"not_assessed","ready":false,"blocking_fields":["cost","connection","reliability"],"insufficient_evidence":true,"why":"not assessed here: cost, connection"},"project_case":{"label":"Standardized Project Case","matrix_version":"1.0","tier":"not_assessed","ready":false,"blocking_fields":["cost","connection","reliability"],"insufficient_evidence":true,"why":"not assessed here: cost, connection"},"project_case_carbon":{"label":"Project Case with a carbon requirement","matrix_version":"1.0","tier":"not_assessed","ready":false,"blocking_fields":["cost","connection","reliability","carbon"],"insufficient_evidence":true,"why":"not assessed here: cost, connection"},"site_diligence":{"label":"Conditional site diligence","matrix_version":"1.0","tier":"not_assessed","ready":false,"blocking_fields":["cost","connection","reliability","local_capacity"],"insufficient_evidence":true,"why":"not assessed here: cost, connection, local capacity"}},"reliability_layers":{"bulk_historical":{"state":"held","method":"event-based"},"forward_adequacy":{"state":"held","method":"modelled"},"local_delivery":{"state":"unknown","method":null},"contractual_service":{"state":"unknown","method":null},"designed_site_resilience":{"state":"unknown","method":null}},"definition_version":"carbon_scope@1.0;connection_process@1.0;cost_archetype@1.0;evidence_tiers@1.0;reliability_layers@1.0","scale":"M1 broad / M2 compiled / M3 project-ready / M4 local; cumulative, so each tier includes the ones below it. Assigned per field from held evidence with provenance. Not a rating strength, confidence score or feasibility conclusion."},"next_review":"2027-05-15","report_url":"https://powergridiq.com/rating/portugal","as_of":"June 2026","evidence_layers":{"version":"evidence-layers-1.0","band":{"state":"insufficient_evidence","label":"Insufficient evidence","means":"No band is published because the available evidence does not support one.","reproducible":false},"component":null,"cost_pillar":{"state":"analyst_assessment","label":"Analyst assessment","means":"The score is a judgement recorded with a written cost-specific rationale. It is not calculated from a formula and does not claim to be.","reproducible":false},"layers_are_independent":"Band, component and cost-pillar evidence are separate judgments. A market may have a sound, applicable band and an illustrative component breakdown at the same time. Do not read a component-evidence limitation as a statement about the band."}}