Free Trial

Spain To Ask EU For Extension To Gas Price Cap Until End 2024


Spain will seek permission from the European Union to extend the temporary cap on gas prices used by power plants until at least the end of 2024, Energy Minister Teresa Ribera said.

  • "We intend to ask for the Iberian mechanism to be maintained for the duration of the energy crisis or until the electricity market is reformed and European regulation is updated," Ribera said.
  • "We would like the gas cap to stay within the lower end of the range, about €45-50/MWh, extending it at least until the end of 2024," she added.
  • Spain and Portugal reached a deal with the European Commission on the Iberian gas price cap mechanism in spring 2022, which is set to expire on 31 May.
  • TTF FEB 23 up 2.7% at 71.4€/MWh

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.