By Chris King •
Published: 26 Mar 2022 • 18:06
Teresa Ribera, Spain’s Minister for the Environment, was interviewed today, Saturday, March 26, on RTVE’s 24-hour channel. As reported by Europa Press, she indicated that lower energy prices could become reality in the next three to four weeks.
This was in reference to yesterday’s ‘Iberian exception’ agreement that was closed yesterday with the European Commission in Brussels by President Pedro Sanchez, along with Antonio Costa, the Portuguese Prime Minister.
Ribera explained that what was agreed this Friday 25 at the European Council “is a political guideline” and that what was introduced is “an authorisation, so that the Commission knows and authorises the mechanism that Spain and Portugal must submit in principle this week”.
“The Commission will need a few days, a few weeks, to verify that everything is correct or recommend us to introduce improvements. We calculate that in three or four weeks we will be able to have a pronouncement from the Commission on what we are proposing and make it immediately operational”.
She highlighted how the Government will introduce “a corresponding gas payment system. You have to pay for gas in any case, but we want that price of gas not to be the price at which the rest of the electricity is paid that is produced, that has a cheaper price. What we will do is separate the gas from the price formation mechanism”.
Friday’s agreement in Brussels to allow Spain and Portugal to implement measures to lower energy prices was “essential”, added the minister, “otherwise European rules would have been “breached”, as reported by granadadigital.es.
Thank you for taking the time to read this article, do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you don't already have one. Review our
Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news.
Got a news story you want to share? Then get in touch at email@example.com
Download our media pack in either English or Spanish.