The EU requires Spain and Portugal to detail the proposal to limit the price of gas in order to evaluate it

The European Commission has demanded from Spain and Portugal the detailed draft with the proposed measures to limit the price of gas in the Iberian wholesale electricity market to be able to evaluate itafter last week both countries announced a principle of agreement with the Community Executive.

“After the political agreement reached on April 26, the European Commission await detailed measurements Spain and Portugalwhich have not yet been formally sent or in draft format”, reported the Competition spokeswoman, Arianna Podesta. “This is essential information without which the Commission cannot conclude its analysis,” she added. He later clarified that “technical contacts will continue on the basis of the information provided” by the Spanish and Portuguese authorities.

The principle of agreement announced in Brussels a week ago still needs approval of the services of Executive Competence community so that it is approved and the governments of Spain and Portugal can apply it.

Ribera hopes to adopt the proposal next week

In fact, the Vice President of the Government responsible for Ecological Transition, Theresa Riveraassured this Monday that he saw “hard” that the Government approved this week the measures to limit the price of gas, in the Minister council on Tuesday, as he had originally planned. Even so, she has stated that she hopes to have the final proposal “as soon as possible” and she was convinced that “without a doubt” it can be adopted next week.

Brussels “maintains its commitment” to assess “urgently” whether the proposed temporary emergency measures in the electricity market “conform” to EU standards on State aid and the Internal Energy Market, said the spokeswoman, who specified that contacts with the two capitals continue “at a technical level”.

Madrid and Lisbon, as a result of the proposal they presented in March, reached a “political” agreement with the European Commission last week to limit the price of gas in the wholesale electricity market, an agreement that now, however, must be formally validated by the community services of Competition.

The agreement, as detailed in a press conference by Vice President Ribera and her Portuguese counterpart, Duarte Cordeirowill be valid for twelve months and the average price of gas during that period will be 50 megawatts per hour (MWh), although at the beginning it would be 40 MWh.


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