The Ministry of Ecological Transitions has assured that its support for Brussels’ gas cap proposal was announced this Monday by Portuguese Prime Minister Antonio Costas, is the “Letter of Agreement” that establishes pre-authorization which validates the measure “provided that the legislative proposals prepared by both Spain and Portugal do not deviate from those submitted so far”.
The European Commission late this afternoon denied a “formal” decision to approve the Madrid and Lisbon plan to lower the electricity price, which the Sánchez executive had planned to approve at the Council of Ministers this Tuesday.
“While no formal decision has been taken at this time, the Commission is still in contact with the Spanish and Portuguese authorities on the design of the measure,” a spokesman for the Community Executive told EFE.
From the ministry led by Teresa Ribera They still do not rule out measures in the Council of Ministers this Tuesday. Government sources say that this will not be the first time that Norma will attend the meeting at the last minute.
The ministry recalls that “this is not the first time that they approve a measure at the last minute”.
The Portuguese Prime Minister announced this Monday that the European Commission has approved the Iberian proposal. “today morning European Commission approves Portuguese and Spanish proposal To avoid the pollution of electricity price due to increase in gas. This is a far-reaching measure,” Costa told Portuguese journalists in Strasbourg.
Spain and Portugal announced in late April that they had reached a political agreement with the EC to limit the price of gas in the wholesale electricity market in Spain and Portugal, which can be used by joint cycle plants for electricity generation. This is done, and thus reduces the consumer bill.
The cap’s application proposes a twelve-month period and will start with an average price of 40 euros/MWh of gas to stabilize at around €50 per MWh on average over the entire period.
The EC confirmed last Friday that it had received the Iberian proposal and would study it “immediately”, while “technical contacts” between Brussels, Madrid and Lisbon would continue.