Ribera asks the electricity companies to maintain price agreements with the industry

The Third Vice President of the Government of Spain, Teresa Ribera, asked electricity companies this Friday not to alter the price agreements with the industry even when maturities may occur, in a context of strong inflation driven by the energy shortage.

“There is a firm commitment on the part of the large electricity companies not to alter the conditions under which they had been signing coverage agreements, price agreements, with the industry. And it is important that they maintain them, ”the also Minister for the Ecological Transition told the press from the UN climate summit held in Glasgow.

The minister added that it is important to maintain the agreements “even in those cases in which the expiration may occur, because it touches, of those contracts (…) with industrial consumers.”

The consumer price index (CPI) rose 5.4% year-on-year in October, one tenth less than anticipated by the National Institute of Statistics (INE), but 1.4 points above the rate registered in September, a increase caused by the increase in the cost of electricity and gasoline.

This is the highest rate since September 1992, according to information from the INE, which explains that, without taking into account the decrease in the special tax on electricity, the interannual rate of the CPI would be 6.1%, according to collects the index at constant taxes.

The CPI soared in October to 5.4%, one tenth less than expected, and marks a maximum in 29 years

“We still have to see how this effect on gas prices in international markets can evolve,” added Ribera, who recalled that the Government adopted measures to contain household electricity bills linked to the regulated rate.

He also valued that these measures, in his opinion, have facilitated that “the rate offered by free marketers has sometimes been reduced, as a consequence of such a significant reduction in the tax burden and the fixed costs that are now assumed exceptional way by the Budgets, by the taxpayers».

“I think it is very important to generate comfort, especially in Spanish homes,” added the vice president, who pointed out that “the responsibility of the Government is to seek all those solutions that can alleviate the effects of the exponential increase in the price of natural gas in international markets. in the energy costs of the basket of families and industry”.

Regarding the possibility of intervening in the bill, which the electricity sector rejects, Ribera indicated that he will try to seek “the maximum consensus” and did not set deadlines to carry it out.

“There have been movements. Some companies have expressed their opposition to the fact that this renewable energy paid for at the profitability guaranteed by law could be made available to third parties. There has also been opposition from some marketers who prefer that nothing be changed” because “apparently it is proving difficult to have a common space.”

“There is no date if there is no consensus (…). For now I don’t see it easy for there to be a consensus on this issue,” he concluded.

Source: The Energy Newspaper