Oeiras, Portugal, Aug. 18, 2026 (Lusa) - Portugal's prime minister stated on Tuesday that all details regarding the State's re-entry into the electricity grid managing firm, REN, share capital will be made available for «public scrutiny» and said that this move could help to reduce the cost of electricity.
Speaking to journalists after a meeting at the headquarters of the National Emergency and Civil Protection Authority in Oeiras, Luís Montenegro was asked about the State's re-entry into REN's share capital, stating that «all details relating to this operation will naturally be made available and will be subject to scrutiny by the country and the political parties».
He added, however, that these are transactions involving listed companies «which have their own rules that must be followed to ensure there is no distortion of the market».
«That is what has been done so far and that is what will be done from now on as well,» he emphasised.
Luís Montenegro also explained that the aim of this transaction is to be able to «contribute even more, on a more permanent basis, to the establishment of a system whose investments» enable the electricity grid «to reach people's homes and businesses more easily», with the aim of «effectively reducing costs».
To this end, he added, the country must have «production capacity and a good distribution network, and the system must be able to integrate, as it fortunately already does in Portugal, electricity from renewable sources» and must be able to «have greater autonomy – strategic autonomy and autonomy in decision-making».
The prime minister stated that the combination of these factors «in the medium and long term will have an effect on prices».
«No one is saying that intervention in REN is what causes a price change, but it is one of the conditions enabling us to protect the strategic interest of having a more resilient grid, of protecting our critical infrastructure, of ensuring the system operates in a way that allows it to be optimised and, once optimised, for this to be reflected in the terms of access,» he added.
The prime minister considered that «the country already understands» the government's intention behind this decision, but added that the necessary clarification would be provided «to further encourage this new dynamic» in a sector he described as «fundamental to people's quality of life and the competitiveness of the economy».
On Friday, the Portuguese Securities Market Commission (CMVM) was informed that Parpública, the Portuguese State's holding company, had purchased a 13.7% stake in REN from the Spanish firm Pontegadea Inversiones.
The transaction is subject to approval by the Court of Auditors and marks the Portuguese State's return to the company's shareholder structure, following a privatisation process that was completed in 2014 during the PSD/CDS-PP government led by Pedro Passos Coelho, with the sale of the remaining 11% that was still in public hands.
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