January 28, 2021

Teresa Ribera believes that the rise of light is temporary


Madrid

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The fourth vice president of the Government and Minister for the Ecological Transition, Teresa Ribera, has considered that the rise in the price of electricity these days, which has marked all-time highs, it is a “conjunctural” episode and that it has a “limited” impact on the electricity bill, and has stressed that it is not solved with a public energy company, as requested by United Podemos, its partner in the Executive.

In an interview with Europa Press, Ribera said that, despite the insistence of United We Can, which has come to bet on a public energy company or even nationalize Endesa, it would be a measure that “does not solve anything”, since the conditions of the electricity market and the price of gas “are the same” for all the countries of the European Union.

«EDF is a French public company and Enel is an Italian public company, and the evolution of prices in the French and Italian markets has been the same as in Spain, since European law does not allow selling at low cost, market conditions and the price of gas are the same for them as for us. We don’t think we’re the clumsiest either, “he said.

Ribera pointed out that the perfect storm has occurred with the ingredients of the cold wave, which has caused an increase in the demand for energy, and to which the pressure on the natural gas market and the increase in the prices of CO2, which has led to registering this “temporary increase” in the price of electricity.

However, he recalled that the electricity market is designed “for the whole of the European Union, with the same rules”, so this rise is being the same in the rest of the countries.

It also influenced that this increase in the wholesale electricity market “Does not have a linear impact” on the electricity bill, so it does not translate into automatic increases or the same amount in the final prices paid by consumers, since on the receipt there are other concepts (tolls, charges and taxes) that are not affected by the market.

On the other hand, the Minister for the Ecological Transition and the Demographic Challenge indicated that, despite the fact that she asked the National Commission of Markets and Competition (CNMC) last Thursday to monitor and prove that everything has worked well In this new episode of peaks in electricity prices, he has “no indication” to suggest that there have been irregularities.

«What is important is that the CNMC, every time an episode of these characteristics occurs, activates the entire process of in-depth analysis of how offers and demands have been matching, what has been being offered and if it meets all the requirements. rules. And if he identifies any indication of irregularity or speculative position, let him go to the end and sanction, as he has done on other occasions, “he added in this regard.

The fourth vice president of the Government also reiterated that “the priority” is, in these extreme conditions motivated by the cold wave, “to guarantee energy supplies in homes”, for which the electricity and gas system, despite “small incidents »Solved quickly, it is showing signs of its« robustness ». “The system is designed with a security clearance that gives us all comfort,” he said.

Furthermore, Ribera stressed to Europa Press that “the stability, predictability and reasonableness” of energy prices has been “an absolute priority” for this Government “from day one.”

“From the social point of view, but also from the point of view of modernization of our system by integrating more and more renewables, efficiencies and unloading all the cost of the bill,” he said, adding that in two years it has been possible to reduce the cost of energy by 40%.

Thus, despite recognizing that “it is very difficult to think” that there may not be specific occasions of increases in electricity prices such as the current one, due to the operation of prices in European markets, “which is transparent, the same for the whole world and associated with marginal cost ”, insisted on the importance of“ continuing to strengthen the entire structure of measures that protection of vulnerable consumers and continue working throughout the transition process.

In this sense, he assured that the speed of penetration of renewables in Spain and the estimate of how they may evolve point in the future markets to 2022-2023 that energy prices in Spain «are already below prices from France, Germany or other neighboring countries, with which we always compared ourselves ».

“We know that we have to strengthen renewables and efficiency, electrification where possible, but also storage and interconnection to be able to have that flexibility and ability to take advantage of the resource when it is not occurring,” he added in this regard.

In this regard, Ribera referred to another of the requests of United We Can, such as the VAT reduction on electricity from the current 21% to 4%, and he affirmed that the entire revision of the energy tax system and green taxation, “is being analyzed by the Treasury” and from its portfolio collaborates in it.

Thus, he told Europa Press that the revision of energy taxation is “one of the pending issues”, although he called for not rushing about it, since authorization from Brussels may be needed in some aspects.

In this line, he framed the Government’s proposal for the creation of the National Fund for the Sustainability of the Electricity System (FNSSE), in order to transfer the cost of the premiums to the renewables of the electricity bill to all energy sources, since He considered that “from the regulation and from the cost sharing systems it is easier to be able to work by giving the appropriate signals.”

“We think that the creation of this fund is much more solvent and compatible with the idea of ​​an energy system where you can have an overview of consumption and we do believe that it is going in this direction by giving the appropriate and correct signals,” he said. .

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