ARCHIVED - No fear of gas shortages in Spain but prices could go up, says government
Increased demand both in Spain and from our European neighbours could hike up the price
In a classic good news/bad news statement, the Minister of Ecological Transition, Teresa Ribera, assured this week that there is plenty of gas available to keep all of Europe going until February and March. Moreover, she stressed that there is no fear of a gas shortage in Spain, but that the prices could go up.
“It is very unlikely that in Spain we will have a gas supply problem this winter. What there may be is a price problem,” she said.
Spain’s energy system is much more stable than the rest of Europe given its large regasification capacity and the government’s commitment to the development of renewable resources. However, certain “price tensions” could arise if neighbouring countries like France and Portugal continue to require more and more gas from Spain.
“They have asked us to be in a position to export as much as possible to avoid blackouts in those countries,” Ms Ribera explained. However, “our export capacity is at its maximum right now. If our neighbours do not do well, we may suffer price tensions, more than supply ones.”
It’s no secret that the increase in inflation is heavily linked to energy prices, a factor which would have a far greater impact on families and businesses if not for the government measures to decouple the price of gas. Nevertheless, the reality is that if a bad winter increases energy demand, this is bound to hike up costs.
“If we are within a reasonable price range and recover a certain normality, if it rains and it is not too cold, the situation will be better and inflation will continue to drop,” Minister Ribera concluded.
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