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Date Published: 26/10/2021
ARCHIVED - Spain pushes for reform of European electricity pricing
The daily cost of energy in Spain continues to reach all-time highs
Ahead of the Energy Ministers' meeting scheduled for Tuesday October 26 in Luxembourg, the Spanish Government has forwarded a proposal to the European Commission in which it suggests being allowed to abandon the current pricing system for electricity amid soaring energy costs.
Spain has appealed to the EU to recognise the “extraordinary moments” that have seen the cost of electricity in the wholesale market break all records, linked as it is with skyrocketing gas prices. Instead, the government has insisted, the power source should be priced while taking into account the cost of renewable energy, a move that would drastically alleviate the pressure on consumers.
Brussels has so far been reluctant to muscle in on the energy crisis, insisting that each state can better manage its own situation; however, Spain continues to put the pressure on, requesting also that the EU establishes a strategic reserve of gas as well as examining the rising costs of CO2 emissions.
The Secretary of State for Energy has claimed that Spain is simply seeking a global resolution to a global problem, but the proposals have already been rejected by a dozen countries including Germany and the Netherlands, who strenuously object to any major reform of the European energy system.
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