Between 1951 and 1976, 16 hydroelectric plants were constructed in Portugal. Total production of electric power (including the Azores and Madeira) was 41.4 billion kWh in 2000 (compared with 6.2 billion kWh in 1968); 70% was from fossil fuels, 25.9% from hydroelectric sources, and the rest from other renewable sources. Consumption of electricity in 2000 was 41.1 billion kWh, the lowest per capita consumption in the European Union (EU). In 2001, Portuguese power stations had a net capacity of 10,306,000 kW. Portugal lacks adequate fuel resources, and large quantities of coal and oil are imported, especially as the electricity sector is switching away from oil. There are no petroleum or gas reserves and no nuclear power plants in Portugal. In 2001, crude oil consumption was 339,000 barrels per day. Natural gas consumption was inaugurated in 1997, with the connection of the Iberian Peninsula to Algeria via the Maghreb-Europe pipeline. In 2000 it totaled 2.3 billion cu m (81 billion cu ft). The Germunde Mine at Castelo de Paiva, Portugal's only coal mine, closed in 1994 because of high production costs and difficult mining conditions.
In 2001 Portugal and Spain signed an agreement to completely integrate their power markets by 2003.