Carbon taxes impact Portuguese fuel costs and port competitiveness

New carbon tax regulations are expected to have significant economic impacts in Portugal. In 2026, the carbon tax applied to fuels is projected to increase consumer expenses by 763 million euros, serving as state fiscal revenue. Approximately 60% of this revenue is slated for the Environmental Fund.

Additionally, the European Union's Emissions Trading System (ETS) poses competitiveness challenges for the Port of Sines. Pedro do Ó Ramos, president of the Port of Sines Authority, warned of potential 'carbon leakage,' where maritime activities might shift to neighboring Moroccan ports like Tanger-Med to avoid EU emission costs. Despite these concerns, the port authority views the potential capacity exhaustion in the Strait of Gibraltar as an opportunity and aims to launch a tender for a new terminal by the first half of 2027.