Ribera assures that the EU is analyzing a cap on gas other than the Iberian exception

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The Vice President and Minister of Ecological Transition, Teresa Ribera, announced this Friday that the EU Energy Ministers will discuss next week in Brussels in an extraordinary council the way to establish a cap on the price of the gas they buy, different from the Iberian exception.

In an interview on TVE 1 from the Egyptian city of Sharm el Sheikh, where he is attending the COP27 climate summit, Ribera explained that, for now, there is still there is no specific regulatory proposal in this regardonly “some clues or general orientations, which go in the right direction, although they fall very short”.

It would be a discretionary formula that It would be fixed each month according to the needs of each countryand would serve to tell the market that the EU is willing to pay “up to a certain level”, which may be “equivalent to or even slightly above other world markets”.

“It is capital that this sign materialize as soon as possiblebefore winter arrives” and that Europe makes it clear that “we are not willing to be fooled and sold the gas we need at any price”, he said.

The price of gas is distorting energy prices in Europe and, therefore, also inflation, with the consequent social and economic impacts, recalled Ribera, who added that “it is urgent to stop depending on fossil fuels sooner”.

The price of gas depends on how the markets estimate it and how market operators use the different references, so “it is good that Europe transfers that we are willing to buy at a maximum price and have a mixed and more stable reference, which takes into account the Asian and American markets and not only the Dutch”, he added.

Source: lainformacion.com

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