The government of Spain announced in early January its intention to apply for an extension to maintain the cap on gas prices until May 2024.
Euskaraz irakurri: Europako Batzordeak ohartarazi du “salbuespen iberiarra” ezin dela abendutik harago luzatu
The European Commission has informed Spain and Portugal that the extension of the “Iberian exception” cannot go beyond December 2023, the date on which the cap on gas prices expires.
This was conveyed by the Commissioner for Competition, Margrethe Vestager, to the Third Vice President of the Government and Minister for Ecological Transition and the Demographic Challenge, Teresa Ribera, and Portugal’s Minister for Environment and Climate Action, Duarte Cordeiro, at their meeting. this Wednesday, as confirmed by diplomatic sources.
The government of Spain announced in early January its intention to apply for an extension to maintain the cap on gas prices until May 2024. However, the same sources assure that Spain accepts Brussels’ proposal as “very reasonable” and likewise recognizes Portugal that it would work for them too.
The “Iberian exception”, applied in Spain and Portugal since June 15, is a mechanism that limits the price of gas for electricity generation in order to lower the price of electricity.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
