Power prices

ELECTRICITY PRICES in Portugal are set to rise by an average of 4.9 per cent in 2009, according to the energy regulator ERSE, despite already increasing by 2.9 per cent this year.

Households and small business will see their electricity bills rise by 4.3 percent while industrial users face a price hike of 5.9 per cent.

A proposal to raise the compensation rate paid to REN, the state run grid operator in Portugal, from seven per cent to 7.55 percent to help compensate the operator for regulated prices in the sector, has also been suggested.