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EC Is Open To Extending Iberian Gas Price Cap

NATURAL GAS

The European Commission is open to approving Spain and Portugal’s request to extend the current price cap curbing Iberian power prices, a Spanish official with energy ministry said.

  • EU competition commissioner Margrethe Vestager was in favour of granting the expansion, yet Madrid, Lisbon and the EC were still negotiating the threshold to cap prices, an official with the energy ministry said.
  • In January, both countries formally requested to extend the price cap for power generation, expiring in May.
  • The EC’s decision on the extension may be announced soon, she added.
  • The measure could be extended until the end of the year, the source said, despite Spain’s plans to have it in place until the end of 2024.
Energy BulletsCommodities
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