The global economy has undergone significant changes in the last six months: the global energy crisis and the political environment could significantly affect the fluctuation of gas and electricity prices in Portugal.
It is impossible to say how much utility rates will increase across the country. Still, according to the current president of Madeira’s regional government, Miguel Albuquerque, there will be no significant changes in electricity prices in the region.
Madeira is in a position of external isolation, so it “cannot be exposed to sharp fluctuations in market prices and must be protected”. And electricity and gas are sectors integrated with a regulated market, so they cannot be subject to significant changes.
According to the chairman of the regional government, “prices in these sectors will always be subsidized and not practiced in the free market” (c) Miguel Albuquerque.