• Ar
  • Es
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Feature
  • Videos
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Feature
Videos
Infographs
In Pictures
  1. Home
  2. News
  3. Europe
  4. Spain, Portugal propose to set electricity price limit at $199/MWh
Europe

Spain, Portugal propose to set electricity price limit at $199/MWh

  • By Al Mayadeen Net
  • Source: Agencies
  • 17 Mar 2022 17:34

Spain and Portugal propose fixing a maximum price for electricity with prices now exceeding 217 euros per MWh.

  • Spain's Minister of Ecological Transition and third Deputy Prime Minister, Teresa Ribera
    Spain's Minister of Ecological Transition and third Deputy Prime Minister, Teresa Ribera

Spain’s Minister of Ecological Transition, Teresa Ribera, announced that Spain and Portugal proposed fixing a price limit for electricity in the EU at €180 (199$) per MWh.

"Our views with Portugal coincide in many ways. A limit at 180 euros already existed, at that time it seemed impossible for us that this [prices exceeding the limit] would happen," Ribera told Spanish radio station Onda Cero.

According to the outlet, the limit had been in place in Spain and Portugal until 2019, at which time the EU banned setting limits for energy companies on the wholesale market.

The minister said that the reason was that two years ago, it seemed crazy that energy prices would reach 180 euros. “Now it is significantly exceeded, it’s hard to argue that we should introduce an upper level in our market.”

The average price of electricity in Spain and Portugal was €217.13 per MWh on Thursday.

The US is having a similar problem, as the rise and gas prices had President Joe Biden pleading with US oil companies on Wednesday, asking them to reduce gas prices given that oil and gas prices have declined recently.

“Oil prices are decreasing, gas[oline] prices should too. Last time oil was $96 a barrel, gas was $3.62 a gallon. Now it’s $4.31. Oil and gas companies shouldn’t pad their profits at the expense of hardworking Americans,” Biden said on the official POTUS account on Twitter.

  • Spain
  • Portugal
  • energy prices
  • Electricity

Trending Now

All
Spain, France and Portugal agree on gas pipeline link

Spain, France, and Portugal conclude deal over new gas route

Most Read

The Middle East Stabilises, Against the Backdrop of a Great Unravelling

The Middle East Stabilises, Against the Backdrop of a Great Unravelling

  • Analysis
  • 28 May
In this image released by the Italian firefighters, a helicopter searches for missing passengers after a tourist boat capsized in a storm on Italy's Lago Maggiore in the northern Lombardy region, May 28, 2023 (AP)

Top Israeli intelligence official dead in Italy: Israeli media

  • Europe
  • 29 May
The domestically produced C919 passenger jet flies at the China International Aviation and Aerospace Exhibition in Zhuhai, Guangdong province, Peoeple's Republic of China, 8 November 2022. (Reuters)

China is set to launch first commercial flight on its C919 plane

  • Asia
  • 26 May
Saudi Arabia's Hawiyah Natural Gas Liquids Recovery Plant which is operated by ARAMCO. (AP)

Tensions between Riyadh and Moscow on the rise due to oil prices: WSJ

  • MENA
  • 28 May

Read this

All
Pop artist Andy Warhol in New York, the United States, 1976 (AP)
US & Canada

Art dealer sentenced to 25 months for selling fake Andy Warhol works

  • Today
Former President Donald Trump watches the first round of the LIV Golf Tournament at Trump National Golf Club, Friday, May 26, 2023, in Sterling, Va. (AP)
US & Canada

New tape leaked of Trump speaking of classified information: CNN

  • Today
Hamid Nouri
MENA

Hamid Nouri breaks record for solitary confinement in Sweden

  • Today
House Speaker Kevin McCarthy listens at a news conference after the House passed the debt ceiling bill at the Capitol in Washington, May 31, 2023 (AP)
US & Canada

Debt ceiling bill overwhelmingly passes US House

  • Today
Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS