The Spanish Environment Minister is facing major challenges with the energy crisis.
(Photo: AP)
Germany wants to artificially lower the price of electricity. Spain and Portugal have had a price cap for gas used to produce electricity since June. Is it good as a role model for Europe?
Yes, in the current crisis it is helping against the harmful price spiral because it limits the influence of the gas price on the electricity price and reduces the high extra profits of the suppliers of renewable and nuclear power. This works very well: the electricity price in Spain is on average 17 percent lower than it would be without the cap.
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