Ribera assures that the EU is analyzing a cap on gas other than the Iberian exception
The Vice President and Minister of Ecological Transition, Teresa Ribera, announced this Friday that the EU Energy Ministers will discuss next week in Brussels in an extraordinary council the way to establish a cap on the price of the gas they buy, different from the Iberian exception.
In an interview on TVE 1 from the Egyptian city of Sharm el Sheikh, where he is attending the COP27 climate summit, Ribera explained that, for now, there is still there is no specific regulatory proposal in this regard, only “some clues or general orientations, which go in the right direction, although they fall very short”. It would be a discretionary formula that It would be fixed each month according to the needs of each countryand would serve to tell the market that the EU is willing to pay “up to a certain level”, which may be “equivalent to or even slightly above other world markets”.
“It is capital that this sign materialize as soon as possiblebefore winter arrives” and that Europe makes it clear that “we are not willing to be fooled and sold the gas we need at any price”, he said.
The price of gas is distorting energy prices in Europe and, therefore, also inflation, with the consequent social and economic impacts, recalled Ribera, who added that “it is urgent to stop depending on fossil fuels sooner”.
The price of gas depends on how the markets estimate it and how market operators use the different references, so “it is good that Europe transfers that we are willing to buy at a maximum price and have a mixed and more stable reference, which takes into account the Asian and American markets and not only the Dutch”, he added.
The planned extension of the COP27 climate summit that is being held in Egypt in view of the divergences that separate the delegations, especially the northern and southern hemispheres, It still makes us think of a “solidarity” agreement in the next few hours, stated the Minister for the Ecological Transition. Teresa Ribera has reiterated that there are still “complex, sensitive issues left”.
However, “we still have an opportunity to transform in a very important way the way in which we sell solidarity and the orientation of financial flows in favor of the vulnerable and of a much more solidary progress”. “I have the impression that, at least tomorrow we will continue hereand rather it will be the night from Saturday to Sunday, when we will finish the negotiations”, assured Minister Ribera, chosen as facilitator of the negotiations at COP27.
Regarding the war in Ukraine, he explained that with this crisis there are additional reasons of great weight, both economic and social, to speed up the transition and change the energy model, something that, in his opinion, is a “very important message”. because getting out of addiction to fossil fuels is not easy.
The vice president has observed that the commitment has been “clear and unanimous”, and has highlighted progress by “leaps” in compliance with the calendar to reduce emissions by 55% in 2030, something confirmed by Germany and by the countries most affected by the supply cuts from Russia.
It is necessary to explain this commitment well to the United Nations and to all citizens, but above all, Ribera emphasized, we must ensure a significant “acceleration” in the structural change of our energy system to stop depending on fossil fuels as much as possible. before.
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