Energy efficiency has been promoted in several activity sectors to improve their economic and environmental performance. The water sector has been no exception, given its significant dependence on energy to provide essential services to society. However, despite the incentives given to implement energy efficiency and sustainability initiatives, there are few studies analyzing how this issue fits into the priorities and strategies of the water sector worldwide. By conducting questionnaires to employees from different areas and departments of Portuguese water and wastewater utilities, this study contributes to this gap in the literature by identifying the main priorities for the next decade for upstream and downstream utilities, making it possible to understand the main concerns of utilities and the divergent importance given to energy efficiency. The results show that upstream utilities consider broader objectives strongly linked to sustainability, such as promoting energy efficiency, as the most important. In turn, downstream utilities are forced to prioritize short-term objectives that help guarantee the service continuity and quality, such as reducing water losses. Finally, this study highlights that the definition of energy and sector-oriented policies must consider and be adapter to the distinct characteristics and realities of upstream and downstream utilities to leverage energy efficiency adoption.