The government convenes an extraordinary Cabinet on Friday to approve the cap on gas to cut electricity

This State will confirm next friday minister council extraordinary royal decree maximum price gas It is used to generate electricity to reduce light, as confirmed by government sources to El Periódico de España. The initial goal was to approve the measure in the Cabinet this Tuesday, and from the Ministry of Ecological Transition on Monday night that measure was still possible, but they are continuing. setting the final technical details on hold.

On Monday, the European Commission pre-approved Spain and Portugal’s plan to set a one-year cap on the price of gas and coal used to generate electricity at an average of 50 euros per megawatt hour (MWh) to lower the price of light. . With this ceiling, the price of electricity in the wholesale market will remain constant. Between 140 and 150 Euros maximum per MWh, compared to the record of over 200 euros it had marked in recent weeks, or 545 euros at the beginning of March. Brussels still has to give final approval after learning of the decrees approved by the Iberian governments.

The Spanish Government intended to approve it in the Cabinet this week, but it is alleged that there are still technical details that need to be outlined and rely on it. be able to initiate the new price system as soon as possiblethus, the effects of lowering the price of the electricity bill are already apparent in the May bill.

This European Union Recognized “Iberian exception” meaning Spain and Portugal Renewables dominate their electricity generation and are less interconnected with the rest of the continent, allowing both countries to take exceptional measures that other member states will follow. However, Brussels should still check that the measure approved by Iberian governments does not exceed the limits set to avoid violating community regulations.

With this cap on average of EUR 50 per MWh for gas (initially the mechanism will start with a cap of EUR 40 per MWh), the aim is to reduce electricity in the wholesale market, the evolution of which directly affects the bill by 40%. domestic customers—10 million contracted at a regulated rate—and 70% of industrial customers who buy electricity directly from this market. The government calculates that these small customers and these industries will benefit. with a 30% reduction on your final bill.

The Spanish Government had intended to approve it in the Cabinet this week, but it is alleged that there are still technical details to be outlined and that it hopes to launch the new pricing system as soon as possible so that the effects of prices will be mitigated. The reduction in the price of the electricity bill is already noticed in the May bill. However, some technical aspects of the mechanism They cannot be implemented immediately and must be introduced gradually. when adapting the operation of the electrical system.

This The European Union recognized the “Iberian exception” i.e. Spain and Portugal Renewables dominate their electricity generation and are less interconnected with the rest of the continent, allowing both countries to take exceptional measures that other member states will follow. However, Brussels should still check that the measure approved by Iberian governments does not exceed the limits set to avoid violating community regulations.

Source: Informacion

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