Industry
Cheaper electricity in Spain and Portugal from May. Photo BL.
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SPAIN/PORTUGAL. On Tuesday 26 April, Teresa Ribera and José Duarté, the Spanish and Portuguese Ministers for Ecology/Environment respectively, received the approval of Brussels to limit the price of electricity for twelve months by capping the price of gas used to power plants at an average of €50 per megawatt-hour.
The agreement is expected to have an impact on the cost of electricity from May. In Europe, for "non-regulated" contracts, it is calculated on the basis of the wholesale price of the raw material, generally gas. However, in Spain as in Portugal, renewable energies account for a significant share of electricity production. Coupling it to the price of gas therefore seems unfair to consumers.
France, thanks to its strong nuclear production, is in a comparable situation.
The agreement is expected to have an impact on the cost of electricity from May. In Europe, for "non-regulated" contracts, it is calculated on the basis of the wholesale price of the raw material, generally gas. However, in Spain as in Portugal, renewable energies account for a significant share of electricity production. Coupling it to the price of gas therefore seems unfair to consumers.
France, thanks to its strong nuclear production, is in a comparable situation.
