The Third Vice President of the Government and Minister of Ecological Transition and for the Demographic Challenge, Teresa Ribera, criticizes that the Spanish electricians who would have to "derail" the joint venture of Spain and Portugal to limit the price of gas to 30 euros per megawatt hour (MWh ) in order to lower electricity prices in the Iberian market. Ribera, in statements to TVE, explained that Brussels analyzes this proposal "in detail" and trusted that it is authorized to do so.
However, he admitted that there are those who prefer that this planting of Spain and Portugal "not be applied" and are trying to make the proposal "derail", including the Spanish energy companies, who want a higher price of 30 euros MWh Raised in Brussels.
“We have not had the impression that this price is a critical aspect (with the European Commission). Obviously, for companies, the higher the price of gas, the more profits they will secure. It is normal to demand that the price be as high as possible, but that would nullify the political agreement and the will to work in the interest of domestic and industrial consumers. It is a moment for all of us to put our shoulders to the wheel and reduce benefits for a while, ”he defended.
The third vice president also described as "unfortunate" the comments made this week by the president of Iberdrola and the CEO of Endesa, Ignacio Sánchez Galán and José Bogas, respectively.
“Regulatory risk”
As reported by ABC, Galán criticized "both this government and the previous one" for not modifying the "bad design" of the regulated electricity rate, which is indexed to the wholesale electricity market, for which it suffers the spectacular rise of prices in Europe. “Stability and regulatory orthodoxy, legal certainty, more dialogue and more market rules are essential. But for that you have to slow down the regulatory pace. "It is not a great honor that Spain is systematically the country with the highest regulatory risk in Europe," Galán deepened.
For his part, Bogas also believes that "there is regulatory risk." He added that when the market is intervened "prices are distorted".
In response to these comments, Ribera said Thursday that Spain "has the great honor of being the country in which the declared profits of the large electricity companies are greater in relative terms than the rest of the electricity companies in other Member States."
“That is not tolerable. In an exceptional situation such as it is (...) important, there is poison asking for more than a year, they want their benefits and participate in proposals, rates and prices that are up to the circumstances, "confirmed the vice president, who called the response of the electricity companies to this request of "a little poor", so the Government "has to exercise its responsibility" to moderate electricity prices.
