The European Commission demands from Spain and Portugal the details of their plan to limit the price of gas and, thus, lower the electricity bill. According to the Community Executive, "after the political agreement reached on April 26, the Commission is waiting for the detailed plans of measures from Spain and Portugal".
Spain and Portugal agree with Brussels on the plan to lower electricity
Brussels states: “They have not yet been presented formally or in draft. This is essential information without which the Commission cannot conclude its assessment. Based on the information provided by Spain and Portugal, contacts will be maintained at a technical level”.
The third vice president, Teresa Ribera, recognized this Monday that, contrary to what was announced on April 26, the file was not ready for approval in the Council of Ministers on Tuesday. In this sense, the Community Executive explains: "The European Commission maintains its commitment to urgently assess whether the temporary emergency measures in the electricity market proposed by Spain and Portugal are in line with the rules on state aid of the EU and the internal energy market law.
Ribera: "Finishing details"
"No news. Last week we reached a principle of political agreement and now the contacts continue at a technical level”, the European Commission said this Monday morning. "It will be as soon as possible, tomorrow there probably won't be time, but certainly next week", recognized the third vice president, Teresa Ribera, upon arrival at a meeting of EU energy ministers in Brussels: "We are finalizing details . It is not easy for us to have time to do it tomorrow [por el martes 3 de mayo]because today is also a holiday in Madrid [lunes dos de mayo], but we are finishing the details in this final proposal. So let's hope it's as soon as possible, in the next few days you'll have news."
On April 26, Ribera herself and her Portuguese counterpart, Duarte Cordeiro, closed a political agreement with the Vice President of Competition of the European Commission, Margrethe Vestager, to limit the price of gas for the next 12 months and, thus, lower the bill of the light. The two countries had offered 30 euros per megawatt hour, but the agreement with Brussels means starting with 40 euros, with an average of 50 euros in the period of application of the measure: 12 months.
“The meeting has allowed us to reach a principle of political agreement with the Spanish and Portuguese authorities that would allow them to take proportionate and temporary measures to deal with electricity price levels, maintain the incentives for the sustainable energy transition and preserve the integrity and the benefits of the single market. Contacts will now continue at full speed at a technical level, ”explained the European Commission after the meeting.
Ribera then said that he hoped to finalize the agreement to be approved at the "Council of Ministers next week." [de este martes 3 de mayo]”. According to the vice president, the measure will “enable industrialists, domestic consumers, to benefit from this decrease in wholesale market references. It is an agreement that protects us from turbulence and increases in the price of gas”. The measure will also affect French users included in the 2.8% of interconnection between the Iberian Peninsula and France.
However, according to Brussels “the plans have not yet been presented formally or in draft. This is essential information without which the Commission cannot conclude its assessment. Based on the information provided by Spain and Portugal, contacts will be maintained at a technical level”.