Spain to abandon national approach if EU moves in energy markets -minister


Spain’s Energy and Environment Minister Teresa Ribera speaks during an interview with Reuters in Madrid, Spain, June 24, 2020. REUTERS / Sergio Perez

MADRID, Oct.5 (Reuters) – Spain would prefer EU-wide measures to national measures to help manage record electricity prices, Energy and Environment Minister Teresa said on Tuesday. Ribera, at the Reuters Impact conference.

Asked about her government’s measures, which included clawing back profits made by public services that policymakers deemed excessive, Ribera said: “If (the) EU is to take action, we are happy to move forward. forward and forget about any other national solutions. ”

She pointed out that Spain’s windfall profits tax, which is expected to be in place until March, and other measures were “something exceptional” to be levied on profits resulting from soaring prices. natural gas, adding that the EU seemed receptive to adopting a common approach.

“The (European) Commission has understood that the situation is neither politically nor economically affordable,” she said.

Highlighting the success of the EU’s joint purchasing program for COVID-19 vaccines, Ribera suggested that a similar joint platform for gas purchasing would help mitigate the impact of price spikes. Read more

The European Commission said on Tuesday it would discuss the idea of ​​creating a strategic bloc-wide gas reserve, which was among the proposals Spain asked it to consider. Read more

Ribera and Economy Minister Nadia Calvino sent a letter to the Commission last month with their suggestions, which also included the creation of a central EU platform to buy gas. Read more

Spain is betting on an accelerated deployment of solar and wind capacity to ensure a constant supply of cheap, long-term energy and plans to phase out its nuclear generation fleet by 2035, a deadline Ribera has said unlikely to change. .

“The owners of nuclear power plants were unwilling to invest for a new cycle,” she said.

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Reporting by Isla Binnie and Nathan Allen; additional reports by Andrei Khalip and Belén Carreño; edited by Jason Neely

Our Standards: The Thomson Reuters Trust Principles.

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