The cap on the price of gas in the electricity market means that “the only electricity that is paid at the cost of gas is that which is generated with this raw material.” That is, it avoids contagion effect to other technologies. The Third Vice President and Minister for the Ecological Transition, Theresa Riverahas encrypted in 250 million euros the ‘benefits fallen from the sky’ the amount that has stopped receiving the electricity companies in these first 15 days. That figure is at the same time the amount that has been saved consumers with regulated rate (PVPC) during this time. In percentage terms, the discount is 14% If the current price is compared with the records that the wholesale market if the mechanism has not been applied.
“The wholesale market prices and the final prices after the adjustment were lower than what we would have had without the mechanism and lower than those of the rest of the European partners,” Ribera insisted during a speech to report on the first two weeks of the mechanism. and that he has taken advantage of review all measurements launched by the Executive for a year. In this sense, Ribera has ensured that the cap on gas, together with the tax reduction (from 21% to 10% and starting this Friday from 5%) and the charges (30% lower) represents a 30% consumer bill reduction if these measures were not put in place.
In this review of the set of measures applied, the third vice-president has recalled one of the most controversial, the cut to the plants that do not produce with gas due to the rise in prices of this raw material in €340 million. This measure was launched In September and a few weeks later the Government had to modify it to exempt from the cut those bilateral contracts lower than 67 euros per megawatt-hour. In this sense, Ribera addressed “those” who described the measure as “terrifying interventionism” –in direct reference to the president of Iberdrola, Ignacio Sánchez Galán– reminding him that “a good part of the surrounding countries” have replicated this measure.
That cutout of 340 million euros is very low if we take into account that the initial forecast -before the text was retouched- was 2,400 million euros in the initial period of three months. However, Ribera has once again defended that the initiative has served, in turn, so that companies do not update customer contracts above those 67 euros per megawatt-hour.
The vice president has revealed nothing, beyond that “work is being done on it”, about the tax announced by the Prime Minister who wants to tax the profits of energy companies, which also includes oil companies From the PNV, the deputy Idoia Sagastizabalhas shown its support for this measure “at this juncture” but has asked the Government to do so on the difference of benefits, temporarily and in dialogue with the companies affected and do it”without fluctuations and with the maximum guarantees so as not to be frightened by poorly made decisions that end up on the bill”.
Group requests
There are several ‘tasks’ that the representatives of the different groups have demanded from the vice president, in the midst of a global energy crisis and with runaway inflation in the country. The main criticism from People’s Party and VOX has focused on the fact that “Spanish consumers are subsidizing gas to the French“because the sale to the neighboring country is made without including the amount of compensation. The PP, in addition, has once again claimed the VAT reduction also in the gas bill and the reduction of the special tax on gasoline.
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But also his government partner, United We Canhas remembered the government agreement in which “it does not say ‘reduce’ the benefits fallen from the sky” but “Finish with them and, therefore, has asked to work “seriously” to put a lower stop, but also to eliminate the permanence of free market bills so that users can “freely” change rates. Also Inigo Errejonleader of More Country, has focused his speech on the benefits of energy. In his case, she has asked for a “price control in inflationary sectors” such as “gasoline and rents”, just as it happened with masks or tests.
While from Junts per Catalunya, bald pillarhas chosen a string of measures how to force the plants to sell their production at a fixed price to the marketers; lift the limitation on self-consumption (500 meters) to favor energy communities –a historic request also from ERC that was repeated this Thursday by its deputy, Joan Capdevila–; audit the offers of the power plants in the market when they “force” them to enter the gas or review the criteria for energy aid for buildings, among others. For its part, Oskar Matutefrom Bildu, proposed three recipes: intervene the market, nationalize strategic sectors either taxing energy companies “from” now. “It can follow in the footsteps of France, the United Kingdom or Belgium and they have to do it despite the boycott from the big companies,” Matute recommended.