Spain requested an exception till May 2024The ‘Iberian exception’, which has been utilized in Spain and Portugal since June 15
The European Commission has knowledgeable Spain and Portugal that the extension of the ‘Iberian exception’ can’t transcend December 2023, the date on which the non permanent framework of help measures for the battle in Ukraine expires, so so long as the European Union (EU) doesn’t modify it, the extension of the mechanism should abide by it.
This was conveyed by the Competition Commissioner, Margrethe Vestager, to the Third Vice President of the Government and Minister for Ecological Transition and the Demographic Challenge, Teresa Ribera, and the Minister for the Environment and Climate Action of Portugal, Duarte Cordeiro, at their assembly this Wednesday, in accordance with what diplomatic sources have confirmed to Europa Press.
Although on January 9 Minister Ribera introduced her intention to request an extension of the ‘Iberian answer’ till May 2024, the identical sources guarantee that Spain accepts the Brussels proposal as “very affordable” and, likewise, Portugal he acknowledges that it could work for them too.
The ‘Iberian exception’, which has been utilized in Spain and Portugal since June 15, is a mechanism that caps the value of fuel for electrical energy technology to be able to decrease the value of electrical energy. During the primary six months of this measure, the value of fuel was capped at 40 euros/MWh and from there, it will increase by 5 euros/MWh per thirty days till May, when its validity ends.