We re‐examine the relationship between electricity consumption, economic growth, and employment in Portugal.
The electricity consumption and economic growth is causing each other in the long‐run.
In the short‐run, economic growth Granger‐cause electricity consumption, but no evidence of reversal causality.
Energy conservation policy will deteriorate the process of economic growth in the long‐run.
Portugal should increase investment on R&D to design new energy savings technology.
