Portugal battery auction: three changes in the final rules
Portugal’s first battery auction is finally real. The final rules landed on 22 October, and three things changed that most people have not noticed yet.
For context: 750 MVA of grid capacity for standalone storage, plus 300 MVA for renewables with co-located batteries, at 400 kV nodes. Ascending clock from 0 EUR/MVA, pay-as-clear, merchant revenue only. The launch planned for 14 September slipped; the clock started on 22 October.
What changed between the consultation draft and the final documents:
1. The cap per candidate is gone. The draft limited each bidder to 200 MVA (100 MVA co-located). The final rules keep only the 50 MVA minimum. One bidder can now take an entire lot. Panóias alone carries 400 MVA.
2. The municipal levy is no longer a share of revenue. It is 2.5% of the award price per year, for 5 years (standalone) or 10 years (co-located). Add the new 0.75% OMIP fee and the real price of capacity is the clearing price x 1.13 or x 1.26, before bonds.
3. The stick got softer. Only the production and operating licence deadlines can trigger the bond, only if the delay is imputable to the developer, and the “12 months cumulative delay = loss of capacity” rule was deleted. Curtailment caps dropped too: 500 h-eq/yr standalone, 750 h co-located, day-ahead restrictions only.
The calendar, in business days from publication: clarifications close 5 November, candidaturas around 21 December, bond originals by 29 December, auction not before March 2027, titles around mid-2027.
What it means in practice: this is a scale game with a known cost stack and a bond line that has to be in place before Christmas. The developers who will do well are the ones with node-adjacent land, a shared-connection strategy for the 8 of 10 substations that need one, and a partner whose balance sheet is ready now.
We have the full draft-vs-final comparison and the computed calendar for both procedures. Happy to walk through it with anyone looking at Portugal for storage.
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