Renewable Energy Communities (REC) can play a crucial role in enhancing citizen participation in the energy transition. Current European Union legislation enshrines energy communities and mandates Member States to encourage these organizations, promoting adequate conditions for their establishment. Nevertheless, uptake has been slow, and more research is needed to optimize the associated energy sharing. Using a Portuguese case study (REC Telheiras, Lisbon), this research aims to match local generation through four photovoltaic systems (totalizing 156.5 kWp of installed capacity) with household electricity consumption while cross evaluating the Portuguese legislation for energy sharing. The latter aim compares two scenarios: (a) current legislation (generated energy must be locally self-consumed before shared) and (b) equal share for members with a fixed coefficient. The evaluation is performed according to two indexes of self-consumption (SCI) and self-sufficiency (SSI), related to the simulation of four photovoltaic systems in public buildings, their associated consumption profiles, and an average household consumption profile of community members. The results show that, while maximizing self-consumption for the same values of generation and consumption, the number of participants is considerably lower for Scenario A (SCI = 100% is achieved with at least 491 residential members in Scenario A and 583 in Scenario B), implying that legislative changes enabling energy communities to better tailor sharing schemes may be necessary for them to become more attractive. The methods and results of this research can also be applied to other types of facilities, e.g., industrial and commercial consumers, if they are members of a REC and have smart meters in their installations.