The government’s stance toward energy groups is hardening amid a price crisis and growing suspicion about extraordinary measures. The manager has grown wary of energy companies for months, establishing tighter controls and requesting more information to ensure that large players do not reap windfall profits from price increases.
The administration remains skeptical of corporate behavior and calls for accountability and shared responsibility as the energy crisis worsens, a situation intensified by Russia’s invasion of Ukraine. Nadia Calviño, the Vice President and Minister for Economic Affairs, highlighted this on Thursday, focusing on oil and electricity and urging the National Markets and Competition Commission to monitor company conduct in both sectors to prevent prices from rising unchecked.
Calviño signaled the possibility of ending the 20‑cent per liter fuel discount if findings show certain oil companies are lifting prices to maintain the discount, thereby undermining its intended effect. In an interview with public radio, she said, decisions would be made based on which measures are most effective and which fail to deliver. If evidence shows that price levels stay low only because operators absorb government aid, the support would not continue.
The government warned of very close monitoring of both fuel and electricity markets to deter any corporate behavior that could blunt the impact of price-control measures.
Recently, Teresa Ribera, the Vice President and Minister for Ecological Transition, indicated openness to replacing the flat 20‑cent discount with a targeted bonus tied to family income. The goal is to direct relief to those most in need, ensuring fair access to discounts. A card-like system could be used to direct financial relief toward qualifying households, Ribera suggested, reinforcing the idea that support should be proportionate and transparent.
One electric does not cooperate
Meanwhile, Calviño criticized the delay in changing how electricity prices are reflected in inflation calculations. The current method affects the consumer price index and skews the apparent rise in electricity costs, with the government attributing the delay to the behavior of electricity companies. The National Institute of Statistics is preparing a reform to include both regulated and free-market electricity tariffs in the inflation calculation to better reflect actual household consumption.
For years, INE has measured electricity price changes using only the evolution of the regulated rate, which now accounts for about 40 percent of small users and has shown the largest increases in recent months due to market prices. The reform would incorporate free-market tariff data into the CPI calculation, aligning statistics with real consumer experiences. The initial plan to reform price measurement was scheduled for January but was delayed after electricity companies did not provide the necessary data for precise CPI calculations. Calviño indicated ongoing efforts to obtain the detailed information needed, without naming any specific company that has not complied.
The statistics institute held meetings to arrange the detailed data submission. Iberdrola, Endesa, and Naturgy together account for roughly 80 percent of customers in the Spanish electricity market. Calviño stressed that the government would use all legal tools available to respond to the current emergency while collaborating closely with INE to ensure timely and accurate data flows.