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BREAKING
Local sources: Civilians, including children and women, were injured in the al-Maqous neighborhood of Sweida, in Syria, as a result of ongoing clashes
Israeli media outlet: Security incident reported in the Gaza Strip
Iranian Foreign Ministry spokesperson: No new date or venue has been set for the meeting between Araghchi and Witkoff, and no negotiations will take place until the outcome is guaranteed
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police
Palestinian platforms: The IOF detonated a booby-trapped robot east of the al-Zaytoun neighborhood, south of Gaza City
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed

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

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

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

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  • 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.

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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

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