Liberalized Market Prices

To compare the prices of electricity and natural gas commercial offers, see ERSE's energy price simulator.

The differences between the regulated and the liberalized markets in the consumers’ total invoice are as follows:

All consumers pay the network access tariff, regardless of whether they are in the regulated market or in the liberalized market. Access tariffs reflect the cost of infrastructures and all services used by all consumers in a collective manner. This tariff results from the sum of the global technical system operation tariff, transmission network tariff, and distribution networks tariffs. ERSE defines all these tariffs.

Consumers, who still are in the regulated market pay the energy tariff and the supply tariff, set by ERSE. In the liberalized market, each supplier defines freely the corresponding value, being in competition with other suppliers.

The government is responsible for defining VAT and Taxes and both are equal either in the regulated market or in the liberalized market.

Known more about all commercial offers in the liberalized market in the natural gas commercial offers Bulletin (PT).

To compare the prices of electricity and natural gas commercial offers use the ERSE energy price simulator.

Every six months, ERSE publishes information (PT) comparing energy prices in Portugal with other European Union countries' prices.

Tariffs and Regulated Prices

Annually, ERSE approves natural gas tariffs and prices for a time period named as year gas (October to September of the following year). Exceptionally ERSE can define tariffs and regulated prices for a different timeline.

ERSE defines 'tariffs and prices' as:

  • Tariffs: regulated tariffs that reflect all the costs of each regulated activity. For these, ERSE defines the allowed revenues; all end-user consumers, both in the regulated and liberalized market, pay these costs.
  • Prices: The prices of regulated services are associated with mandatory services (for example: restoration of natural gas supply or extraordinary meter readings) and are paid only by consumers who request them.

ERSE´s Tariff Code defines either the allowed revenue methodology, for each regulated activity, and its tariff and the respective structure.


Gas year 2023-2024

Annual setting

ERSE approved for the gas year  2023-2024, the natural gas tariffs, to be in force from October 2023 to September 2024, through ERSE`s Directive No. 13/2023, 25 July.

The tariff setting is based on the document "Natural Gas Tariffs and Prices for the gas year 2023-2024 and Parameters for the 2024-2027 regulation period" (PT), which includes 5 annexes, that analyze in detail the allowed revenues of the regulated activities, the parameters for the regulation period, the demand for natural gas, and the tariff structure. The disclosed documentation also includes the opinion of the Natural Gas Sector Tariff Council and ERSE's comments on that Opinion.

The opinion of the Tariff Board and ERSE's response:

Tariffs and prices in Excel table format:

Social Tariff

Economically vulnerable consumers with an annual natural gas consumption less than 10 000 m3 (in the low‑pressure distribution network), are entitled to a social tariff discount in their respective network access tariff. This discount is equal for all consumers, whether they are in the regulated market or in the liberalized market.

For consumers in the liberalized market, ERSE defines the social tariff discount applied to the network access tariff. When the consumer is entitled to the social tariff, the supplier must apply this discount to his end-user tariffs.

For consumers who are still in the regulated market, ERSE defines an end-user social tariff, applied by the supplier of last resort (SLR).

ERSE made available a calculator to check the social tariff discount on consumers' energy invoices.

See these FAQs for more information on the social tariff.

The government division of Energy and Geology (DGEG) is responsible for identifying the beneficiaries of the social tariff. If you have any questions or complaints about the social tariff entitlement, please contact DGEG.



Transmission tariffs transparency

The Commission Regulation (EU) 2017/460 establishes a network code on harmonised transmission tariff structures for natural gas, including rules on the application of a reference price methodology, the associated consultation and publication requirements as well as the calculation of reserve prices for standard capacity products.

Pursuant to article 28(2) of Commission Regulation (EU) 2017/460, ERSE sent on 31 March 2023 to Comisión Nacional de los Mercados y la Competencia (CNMC) a consultation on discounts, multipliers and seasonal factors. Having due regard of the response by CNMC, as well as of other stakeholders consulted on the proposal of tariffs and prices for gas year 2023-2024, ERSE publishes the following motivated decision.

Information required under article 29 and article 30 of the network code:

Article 29

Information to be published before the annual yearly capacity auction in 2023-2024 (*)

Art. 29 (a)
Firm capacity products

Information for standard capacity products for firm capacity (reserve prices, multipliers, seasonal factors, etc.)

Art. 29 (b)
Interruptible capacity products

Information for standard capacity products for interruptible capacity (reserve prices and an assessment of the probability of interruption)

(*) Updated on 1st June 2023.

Article 30

Information to be published before the tariff period in 2023-2024 (October 2023 - September 2024) (**)

Art. 30 (1)(a)
Technical parameters
Information on parameters used in the applied reference price methodology related to the technical characteristics of the transmission system.
Art. 30 (1)(b)(i,ii)
Allowed revenues and changes
Information on the allowed revenue, including the changes compared to the previous period
Art. 30 (1)(b)(iii)
Revenue parameters

Information related to the following Parameters: types of assets, cost of capital, capital, and operational expenditures, incentive mechanisms and efficiency targets, inflation indices

Art. 30 (1)(b)(iv,v)
Transmission service revenue 
Information on the transmission services revenue including capacity-commodity split, entry-exit split, and intra-system/cross-system split
Art. 30 (1)(b)(vi,vii)
Reconciliation mechanism and auction premium
Information related to the previous tariff period regarding the reconciliation of the regulatory account and the auction premium.
Art. 30 (1)(c)
Transmission and non-transmission tariffs
Information on transmission and non-transmission tariffs accompanied by the relevant information related to their derivation
Art. 30 (2)(a)
Tariff changes and trends
Information on transmission tariff changes and trends
Art. 30 (2)(b)
Simplified tariff model
Information about the used tariff model and an explanation of how to calculate the transmission tariffs applicable for the prevailing tariff period

(**) Updated on 31th August 2023.