Spain and southern European countries expect the EU to set a cap on the “really effective” gas price

Sánchez points out that the proposal of the European Commission, which establishes the maximum at 275 euros, “needs adjustments”


Spain and the rest of the southern European countries that have participated in the IX EU-MED9 Summit hope that the European Commission can agree on an “effective” gas price ceiling that guarantees the excessive price of energy, the competitiveness of industries and security of supply.

This is reflected in the joint declaration signed by the President of the Government, Pedro Sánchez and his counterparts from France, Portugal, Croatia, Cyprus, Malta, Slovenia, Italy and Greece, which has put an end to the summit.

The countries have agreed that, based on the conclusions of the European Council of October this year, the establishment of a maximum limit on the price of gas “temporarily and effectively” be established “quickly”, which guarantees the prevention of excessive gas prices. energy and also industrial competitiveness and security of supply.

Along these same lines, Sánchez pointed out that the proposal made by the European Commission, which sets the maximum gas price at 275 euros, “needs adjustments” and that he hopes that the EU can agree on a ceiling that is “dynamic and “really cash”.

Sánchez made these statements together with the rest of the leaders who have participated in the EU-MED9 Summit in a message to the media at the end of the work sessions.


The President of the Government indicated that the debate that they held this afternoon focused on the Commission’s proposal and that they have agreed to work together in this direction with the aim of agreeing on this at the extraordinary European Council next week gas price cap.

In addition, Sánchez has remarked that, for Spain, the three regulations on gas that are being discussed “the reinforcement of gas solidarity, the acceleration of the deployment of renewables and the cap on the price of gas” must constitute “a comprehensive package that must be approved jointly”, according to what he pointed out.

The joint statement further indicates that by quickly launching joint gas purchases, they will use their buying power to drive down prices and that these targets must be achieved quickly.


Sánchez has also called for continuing to reduce dependence on Russian fossil fuels and has underlined Spain’s ability to contribute to the security of supply of the rest of the EU states. “We have the conditions for this”, stressed the Chief Executive, who mentioned the leadership in renewables and the regasification capacity “adaptable to the needs of different countries”, he pointed out.

He also stressed that it is “essential” to reinforce energy interconnections and recalled that this morning the governments of Spain, France and Portugal have set the details for the start-up of the H2MED hydrogen corridor.


Sánchez wanted to value the summit that brings together the countries of southern Europe and stressed that together they make up 45% of the total population of the EU and aspire to have “the greatest possible influence as a group”.

Along the same lines, he added that the objective is to seek collective solutions that start from these countries that suffered particularly from the financial crisis of 2008 and that are now “part of the solution” to other problems of a similar magnitude, such as the pandemic and the consequences of the Ukrainian war.

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