The Government of Spain announced at the beginning of January its intention to request an extension to maintain the cap on the price of gas until May 2024.
Euskaraz irakurri: Europako Batzordeak ohartarazi du “salbuespen iberiarra” ezin dela abendutik harago luzatu
The European Commission has informed Spain and Portugal that the extension of the “Iberian exception” cannot go beyond December 2023, the date on which the cap on the price of gas expires.
This was conveyed by the Competition Commissioner, Margrethe Vestager, to the Third Vice President of the Government and Minister for Ecological Transition and the Demographic Challenge, Teresa Ribera, and the Minister for the Environment and Climate Action of Portugal, Duarte Cordeiro, at their meeting this Wednesday, as confirmed by diplomatic sources.
The Government of Spain announced at the beginning of January its intention to request an extension to maintain the cap on the price of gas until May 2024. However, the same sources assure that Spain accepts the Brussels proposal as “very reasonable” and, Similarly, Portugal acknowledges that it would work for them too.
The “Iberian exception”, which has been applied in Spain and Portugal since June 15, is a mechanism that caps the price of gas for electricity generation in order to lower the price of electricity.
Source: Eitb
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