The Spanish government will also request that the gas cap be maintained at around 45 or 50 megawatts per hour.
Euskaraz irakurri: Iberiar salbuespena 2024ko amaierara art luzatzeko eskatuko dio Espainiak Bruselari
The Third Vice President of the Government of Spain and Minister of Ecological Transition and for the Demographic Challenge, Teresa Ribera, has advanced this Monday that the Spanish Executive will ask Brussels to prolong the Iberian exception at least until the end of 2024with a cap similar to the current one, between 45 and 50 euros per megawatt hour (MWh).
The Iberian exception, which has been applied in Spain and Portugal since the past June, 15, is a mechanism that caps the price of gas for the generation of electricity in order to lower the price of electricity. During the first six months of this measure, the price of gas was capped at 40 euros/MWh and from there, it will increase by five euros/MWh per month until next May, when the validity of the solution ends. ‘Iberian’.
Ribera, in statements to Antena 3 collected by Europa Press, has stressed that until the reform of the regulation of the electricity market in Europe takes placewhich may take “a long time”, Spain “wants to continue benefiting” from the Iberian exception.
“We are going to present to the Commission proposals for the modernization of the electrical system, but also the extension of the Iberian exception, beyond May 2023as long as this crisis lasts and until the European regulation has been updated”, he indicated. Likewise, he indicated that they would like the gas cap “to remain at the lowest possible environment, 45 or 50 euros MWh, and that could last at least until the end of 2024”, he indicated.
The third vice president has explained that the “ups and downs” in the price of electricity depend a lot on how much gas is needed to produce, so that when there is a lot of renewable energy generation, prices fall, but when more gas is needed to produce electricity, prices rise.
For this reason, it has insisted on the need to modify the European electricity system to reduce the volatility in the price of electricity and make it cheaper. In Spain, he pointed out, this has been achieved in part with some of the measures adopted, such as tax cuts and the so-called Iberian solution.
In this sense, Ribera trusts that these measures, together with the debate on the modernization of the European electricity system, will contribute to “stability” prices throughout this year.
Source: Eitb
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