Sánchez assures that the prospects for the price of electricity in the “medium term” are “reasonable”: “The volatility will pass”

“Spain is better and next year it will be even better.” Pedro Sánchez is convinced that the way out of the crisis left by the COVID-19 pandemic is beginning to be seen in some data, such as employment, and defends that it has been much faster than that of the financial crisis thanks to recipes social democrats in the face of the cuts imposed by neoliberalism. The President of the Government has also reaffirmed his commitment that the electricity bill that citizens will pay will be similar to that of 2018 despite the exorbitant increase in prices in the wholesale market. “The prospects for energy prices in the medium term appear to be reasonable thanks to the ambitious reforms and investments that are being undertaken at the national level,” he stated in his appearance in Congress.

“This stage of volatility will pass and Spain will enjoy an electrified model with low prices,” Sánchez asserted before one of the issues that has most disturbed the Executive and that is one of the warnings that the opposition sends him. The socialist president has listed the measures that the Government has put in place to try to alleviate the effects of these prices in the pocket of Spaniards, such as the reduction of VAT from 21% to 10% until the end of the year, the special tax of the electricity or the suspension of the Tax on the Value of Electric Power Production, in addition to the extension of the social bonus.

“We are going beyond the short term. We are proposing reforms that allow us to improve our competitiveness,” said Sánchez, who explained that “it is possible that wholesale prices will fall sharply” in the coming dates, according to analyzes by international organizations and also of private companies. “We do not want any similar crisis to be repeated,” he said about the structural measures that the Government has implemented.


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