This paper describes a set of studies that were performed to estimate the marginal based remuneration that could be recovered by the Portuguese Transmission Company. This study was done for the first time using scenarios of 1998 and was recently updated considering scenarios of 2001. For 1998, we concluded that the marginal based remuneration could only cover 9,15% of the yearly regulated remuneration, indicating that the operation of the transmission system was very efficient as congestion and losses were reduced. For 2001, this percentage increased to 21,70% clearly showing that the operation conditions got degraded revealing the need to invest in new transmission capacity to continue ensuring a reliable and efficient service.
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