Reservoirs in the August PMO and the seasonal allocation of firm energy

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The ONS released the Monthly Operation Programme bulletin for 15 to 21 August 2026, with stored energy stable in all subsystems at the end of the month: South at 86.4%, North at 84%, Northeast at 74.6% and Southeast/Centre-West at 59.4%.

What is missing is what is allocated as revenue. The CCEE published the final seasonalisation factors for physical guarantee for the purposes of the Energy Reallocation Mechanism (MRE) in 2026, and it is this seasonalised guarantee, month by month, that defines how much each MRE hydropower plant has to deliver, not the reservoir level.

High storage does not guarantee revenue. An MRE plant is paid according to the apportionment of physical guarantee, and the difference between what is allocated and what the pool generated is settled in the short-term market at the PLD. A full reservoir in August does not protect the contract signed for the second half of the year.

Seasonalised physical guarantee and MRE apportionment define hydropower generation revenue in the period.

Translated from the Portuguese original published by Linus Green Energy.

SourcesCCEE, Fatores definitivos de sazonalização de garantia física utilizados para fins de MRE para 2026, https://lnkd.in/dR3BzwXw

Original post. This analysis was published on the Linus Green Energy page on LinkedIn. Open on LinkedIn ↗