Spanish Government warns they may end 20 cents fuel discount

The Government said that the most effective measures of the 20 cents fuel discount will be analysed when it comes to assessing a possible extension of the measures. “If we see that any measure means that prices are maintained because operators are absorbing the aid, we will not continue with this aid,” Calviño warned.

On Thursday, May, 5, Nadia Calviño, First Vice-President of the Government and Minister of Economic Affairs, warned that the Government could end the 20 cents bonus on fuel prices if operators absorb it and keep prices at the same level, as reported by ElPlural.

The Minister assured that the  Spanish Government “is closely monitoring the fuel market”, as well as the electricity market. In this regard, she called for “responsibility” on the part of energy companies to “pull their weight”, and to lower the price of electricity and provide the necessary data to the National Statistics Institute (INE).

“We have been trying for months to get this detailed data. There is one electricity company that has not provided the data and we need everyone to help. The message I am sending is to urge the energy companies to work together to bring down fuel prices, to bring down the price of energy on the wholesale market and to ensure that the CPI reflects real prices”, Calviño stressed, without revealing the name of the company.

During the interview, the Head of Economic Affairs stressed that the Spanish Government will use all available instruments to ensure that companies do not hold back price reductions.

She also recalled that the National Markets and Competition Commission (CNMC) has already been urged to investigate any conduct that could be preventing prices from falling.

“In the same way, we are working closely with the INE to use all the legal instruments at our disposal to respond to the extraordinary situation we are experiencing”, said Calviño.

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.