LUSA 09/25/2026

Lusa - Business News - Portugal: Rising fuel prices 'absurd, senseless reality' - PM

New York, Sept. 24, 2026 (Lusa) - Speaking at a climate event at the United Nations, the Portuguese prime minister criticised the «absurd and senseless reality» of rising fuel prices, stressing the importance of ensuring «greater strategic autonomy» in this area.

At the High-Level Event on Climate Action and Just Transition organised by the United Nations leader, which took place at the UN headquarters in New York on Wednesday, Luís Montenegro stated that Portugal is «at the forefront of the energy transition» and assured that the country will double its installed capacity for renewable energy production.

He argued that all investment in renewable energy serves several worthy objectives, such as «cheaper energy production» and environmental preservation, but also «ensures greater strategic autonomy».

«At a time when we are all being affected by this absurd and senseless situation of having to pay higher prices for oil-based fuels, with undeniable harm to our citizens and our economies, the ability to be more self-sufficient – each of us also more sovereign, more environmentally friendly – and to be able to provide energy sources at a more affordable price is a common objective», he argued.

Montenegro paid special tribute to the leader of the United Nations, the Portuguese António Guterres, whom he described as «one of the most audible and clearest voices» in warning of the climate emergency.

«In Portugal, we have, unfortunately, been faced with extreme weather and climate events, notably a growing and deeply worrying number of forest fires, but also other equally extreme phenomena, such as storms and flash floods,» he said.

He argued that Portugal is «at the forefront» of the energy transition and should be able to bring forward «by a few years» the target of achieving carbon neutrality by 2050, emphasising that «more than 75% of the electricity produced in Portugal comes from renewable sources».

«By 2030, we will reduce greenhouse gas emissions by 55%. We are diversifying our energy mix with a strong focus on green hydrogen and biofuels. And, at the same time, we will double our installed capacity for renewable energy production,» he stated.

By 2030, he added, Portugal aims to achieve «two gigawatts of installed capacity in offshore wind power».

Speaking before several heads of state and government who attended this side event to the UN General Assembly, Montenegro outlined the mechanism Portugal has developed to convert certain countries' debt into climate investment.

«This is what we are doing in Cabo Verde and it is what we are doing in São Tomé and Príncipe as well (…) It is a way of financing the development of these countries, centred on a commitment to and investment in environmental protection and the creation of new renewable energy production projects,» he explained Luís Montenegro is in New York on an official visit to the United States to attend the 81st United Nations (UN) General Assembly, and began Wednesday's programme with a meeting lasting around half an hour with the organisation's leader, the Portuguese António Guterres, who is due to step down in December.

The prime minister also spoke at the formal launch of the European «Ocean Eye» Alliance project, announcing that Portugal will contribute €75 million to the European project aimed at strengthening the protection of the oceans, through a combination of financial and in-kind donations.

Montenegro also held several bilateral meetings, including with the presidents of Angola, João Lourenço, and of Timor-Leste, José Ramos Horta.

On Thursday, the final day of his visit to the US, Montenegro will address the high-level segment of the 81st session of the United Nations General Assembly.

SMA/AYLS // AYLS

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