The Council of Ministers has given the green light this Friday to the limitation of the price of gas used for electricity generation, a mechanism that will reduce the electricity bill by about 30% for consumers with tariffs indexed to the wholesale market (pool), according to reports EFE.
The maximum for gas will initially be set at 40 euros/MWh, although it is estimated that in the twelve months it will be around 48.8 euros per megawatt. This means reducing by half the average price that gas has marked in the last quarter, which is around 80 euros.
"For the first time, the measures adopted are primarily aimed at reducing the extraordinary profits of electricity companies" and that "there are net benefits for all consumers," said the third vice-president of the Government and minister for the Ecological Transition, Teresa Ribera, when announcing the approval.
It should be noted that the measure has been approved simultaneously by Spain and Portugal, as part of the Iberian exception, and is expected to come into effect the day after its publication in the BOE, although that could still take days or weeks.
In fact, it will have to have the approval of the European Commission to "make its application effective," Ribera said. The vice president commented that this mechanism causes "for the first time, the same people do not pay." "We have secured a better position than we would have had in the absence of a mechanism like this," she stresses.
