Spain, Portugal offer EU to set limit on electricity price

Spain and Portugal are proposing to set a maximum price for electricity in the EU at 180 euros per MWh on the wholesale market, said Teresa Ribera, Third Vice-President of the Government of Spain and Minister for Ecological Transition and Demographic Challenge, Report informs referring to foreign media.

“Our views with Portugal coincide in many ways. 180 euros already existed as a limit, at that time it seemed impossible for us that this would happen (prices would exceed the limit),” Ribera said in an interview with radio station Onda Cero.

This limit was valid in Spain and Portugal until 2019, after which a decree within the EU came into force prohibiting the setting of limits for energy companies in the wholesale market.