Home Markets Spain to ditch national approach if EU moves on energy markets -minister

Spain to ditch national approach if EU moves on energy markets -minister

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MADRID, Oct 5 (Reuters) – Spain would prefer Europe-wide to national measures to help manage record-high power prices, Energy and Environment Minister Teresa Ribera told the Reuters Impact conference on Tuesday.

Asked about her government’s measures, which have included a claw-back on profits made by utilities that policymakers have deemed excessive, Ribera said: “If (the) EU is to take some measures we are happy to go forward with that and forget about any other national solutions.”

She stressed Spain’s windfall tax, which is due to be in place until March, and other measures were “something exceptional” to be levied on profits resulting from soaring natural gas prices, adding that the EU appeared receptive to adopting a common approach.

“The (European) Commission has understood that the situation is not politically affordable and it is not economically affordable,” she said.

Pointing to the success of the EU’s joint purchasing scheme for COVID-19…

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