Spain and Portugal propose to limit gas to 30 euros/MWh before Brussels
The Minister for the Ecological Transition, Teresa Ribera. /
It will be the lowest reference within the possible options, and would imply a decrease of up to 50% in the daily price of electricity with respect to the current level
white smoke. Spain and Portugal already have a joint proposal to limit the price of gas in the wholesale market to lower the cost of electricity. Both Executives have set the maximum price at which combined cycle plants (those that use gas to produce electricity) will be able to offer their energy in the Iberian market at 30 euros/MWh, regardless of the cost they set for the minimum interconnections with the rest of Europe.
That would be the threshold that both countries have set after the European Council authorized them last week to apply what is known as the 'Iberian exception'. The vice president and minister for the Ecological Transition, Teresa Ribera, has just confirmed this by indicating that in the Government "we have only made the proposal for the price that we consider to be the lowest." The references of the Ribera or Belarra ministers start after the information advanced by the Portuguese newspaper 'Público'.
The Minister of Social Rights, Ione Belarra, has assured that it would be "the best of news" if it is confirmed that Spain and Portugal have proposed to Brussels to cap the price of gas at those 30 euros, a measure that Podemos has been proposing in the last days. According to her calculations, if it finally reaches that amount, the price of electricity in the daily market (the so-called 'pool') could drop to 110 euros / MWh. For comparison, for this Friday, that cost will be around 224 euros/MWh, practically double; and the average for March, the most expensive month in history, has risen to close to 300 euros/MWh.
Last Monday, the economic vice president, Nadia Calviño, reproached him the same day at night for giving that figure, pointing out that they were "very complex issues" and technical enough for the political formation to say that he "would like such a number" to put a limit The idea, in any case, was to limit the gas as much as possible to, at the same time, cause a decrease in electricity to the greatest possible degree.
