Sunday, October 17

Ribera considers the Brussels proposals “manifestly incongruous” in the face of the energy crisis

The third vice president of the Government and Minister for the Ecological Transition, Teresa Ribera, considers the measures proposed this Wednesday by the European Commission to the member states to be “manifestly improvable” in the face of the energy crisis that Europe is experiencing due to the exponential rise in gas, which has more expensive 400% since April and has taken the price of electricity to unprecedented levels.

European electricity companies charge against the cut to the sector in Spain and ask that it not be extended to other EU countries

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Ribera regrets that the measures proposed by Brussels “do not address the exceptional nature of the situation in which we are with exceptional measures up to the challenge that lies ahead”. The Commission has opened itself to the Spanish proposal to launch centralized gas purchases and strategic reserves. But he leaves for later the revision of the marginalist system of electricity prices demanded by countries such as Spain and France, given the effect caused by combined cycle plants, which burn natural gas.

“The cost of generating electricity is not the one that reflects the price that the wholesale market translates,” insists the vice president, who “in a first reading” of the measures that Brussels has proposed this Wednesday believes “striking to confirm to what extent the Commission reflects be aware of the economic impact that the price of gas has for the industry, for the economy and for European families, “which is at levels” only seen before “in the 1973 oil crisis.

“However, the proposals that he collects on his paper are still manifestly inconsistent.”

The vice president values ​​other proposals, such as the promotion of bilateral energy contracting, or the surveillance of the electricity market and the CO2 emissions market, with the aim that “the price of gas does not contaminate the price of electricity.” Some measures that are within the proposals made by Spain in recent weeks.

Ribera recalls that the tension in the gas market “may continue for some time yet and it would be a shame if Europe is not up to the task, trying to correct, stop, that hemorrhage that would occur in the whole of the European economy if not will react “. It also appreciates the convening of an Extraordinary Council of Energy Ministers for next October 26 focused on gas and electricity prices.

On the eve of Brussels presenting these measures, the Financial Times has advanced this Wednesday that the executives of some European electricity companies have requested by letter to the EU governments to avoid drastic interventions in the market with a view to stopping the exponential rise in the prices of the electricity, such as the cut to the extraordinary profits of the sector that Ribera approved in September and that this Thursday is submitted to the validation of Congress.

This Wednesday, the President of the Government, Pedro Sánchez, affirmed in Congress that the Government is working with the industry and the electricity companies to “clarify and specify what is necessary” of the norm that is voted on Thursday in Congress, with the in order to “ensure” that these do not raise its bill to the industry and also to facilitate new contracts “at affordable prices”.

“That is what the Government is working on, with the electricity companies and with the industry: clarifying and specifying what is missing from decree 17/2021,” said Sánchez, before a notice from the PNV that has told him that play your future.

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