Ribera will extend fiscal measures to lower electricity bills if electricity prices remain high

MADRIDThe upward spiral in light prices has, for now, set aside the label of “transient” or at least short-term. In the midst of the crisis in Ukraine, no one dares to date the end of the escalation of energy prices, which the Bank of Spain placed in the spring of 2022. Therefore, the Spanish government no longer looks back. the possibility of an extension of the fiscal measures to lower the electricity bill, which expire in March and April. “To the extent that [els preus] “The government will maintain fiscal measures,” said Teresa Ribera, Minister of Ecological Transition. this Monday in Madrid.

Ribera took advantage of Simson’s presence to demand, once once more, that more measures be taken at the community level to deal with electricity prices. At the end of last year, Spain already led the option of a joint purchase of gas by Europe, as well as the possibility of reforming the electricity market. At the time, Brussels’ response was strong: it ruled out immediate measures to regulate the electricity market, although in the medium term it welcomed the proposal for a strategic gas reserve, leaving it in the hands of the states. members deploy fiscal measures such as those adopted in Spain. This Monday, however, the tone of the Energy Commissioner has been a little softer. Simson has shown its willingness to “explore” solutions with Spain to address the upward spiral of light prices.

“We have an open mind,” Simson reiterated at an informational breakfast before meeting Ribera. Afterwards, the European representative said that “in the coming months it will be necessary to identify how to improve the pricing system of the wholesale energy market” and acknowledged that gas has a “strong impact” on the price of electricity. In any case, the Commissioner has made it clear that the decisions, if requested, will come in April, the month in which the Agency for the Cooperation of Energy Regulators is expected to present a report with new proposals for face current prices. It should be remembered that Simson has always been very skeptical regarding a radical change in the market that regulates the prices of light in Europe. “It is important that the measures do not introduce distortions,” he said.

Earrings from Russia

This Monday, both the Minister of Ecological Transition and the Commissioner for Energy wanted to make it clear that Europe has guaranteed gas reserves for the whole winter, even if Russia threatens to restrict supply. Only if the situation in Ukraine worsens, that is, in the medium term, might storage reach “historic lows,” said Simson, who recalled that Brussels is already working on different scenarios in the event that Russia’s exports to Europe receive a boost. One of these is the export of liquefied natural gas from the United States, but also from Norway.

However, Brussels continues to explore how to stop relying on gas through the energy transition and boosting renewables, but it does so divided. While some countries such as Spain and Denmark reject technologies such as nuclear and gas as part of the process, the European Commission insists they are needed as a “bridge”. “It jeopardizes the commitment to respond to climate change,” President Pedro Sanchez said Monday. Internally in Spain, however, the answer is not clear either and tomorrow, Tuesday, it will be seen once more in Congress. The Spanish lower house will vote on the law of Unidas Podemos to promote public electricity, a measure that the PSOE does not share.

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