Directive 2010/31/EU adopted that by the end of 2020 all new buildings should be nearly Zero-Energy Buildings (nZEB) and Member States should achieve cost-optimal levels by ensuring minimum energy performance requirements for buildings. This paper discusses how low should be the energy required by a nZEB, in the context of housing energy consumption in a Mediterranean climate (Lisbon). For selected houses built after 1990, the calculated primary energy loads for regulated uses - heating, cooling and domestic hot water - are found to be below 90 kWh/(m(2) year). Applying the cost-optimal solutions of thermal insulation and glazing type and considering energy efficiency improved systems, this study concludes that housing energy loads are 'low' for the indicative range of 70 kWh/(m(2) year) for regulated uses or 100-110 kWh/(m(2) year) for total uses, taking primary energy indicators (PEI) from EN 15603. Assuming PEI from Passive House Planning Package or those to be assumed in Portugal for 2013, the threshold decreases to 60 kWh/(m(2) year) for regulated uses or 90-100 kWh/(m(2) year) for total uses. Only the first nZEB condition is explored by this paper. The second condition requires that the nZEB energy load is covered by a 'significant' part of renewable energy sources produced on-site or 'nearby'. (c) 2013 Elsevier B.V. All rights reserved.