Sat. Apr 20th, 2019

EDP ​​asks to reform the electricity market so that prices can fall

EDP ​​asks to reform the electricity market so that prices can fall


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MadridUpdated:

The CEO of EDP in Spain, Rui Teixeira, believes that the trend of light prices will be downward due to the increase in renewable energy in the generation mix, but a reform of the market is necessary, in which the most expensive technologies, such as gas, are the ones that mark the price of the rest, in addition to the heavy fiscal burden borne by the bill.

Teixeira has asked the Government, in a meeting with journalists held on the same stage as the theater they sponsor on the Gran Vía, a capacity market for coal-fired power plants and combined gas cycles, which should act as a backup to renewables during the energy transition.

He explained that these technologies are necessary to ensure the stability of the system during the energy transition and to support renewable energies, which due to the intermittence of their sources (wind, sun and water) need support.

He has argued that the 7% tax on electricity generation, which was suspended for six months and will be in force again in April, will be eliminated, since it produces a distortion with respect to our neighbors, especially with France.

On the energy transition, the CEO of EDP in Spain, the fourth group of our country, has stated that «the degree of ambition of Spain is higher than what the EU asks. It seems to me correct, but the key is how it will be carried out ».

Regarding the future of coal plants, he announced that the Group 1 of Aboño will be closed by the middle of next year and that Aboño 2 and Soto 3 will continue to operate "as long as the market permits" because "we have made substantial investments in them to reduce emissions".

After stating that "we are looking at renewable projects in Spain", he announced that the Portuguese group EDP will divest assets valued at 2,000 million euros in the Peninsula.

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