Saturday, December 9, 2023

Spain, is the country in the EU where the price of electricity has fallen the most

Not so much an ‘Iberian Timo’. The so-called “Iberian exception”, a mechanism that allows Spain to limit the price of gas and lower the price of electricity to mitigate the consequences of the rise in energy prices after the outbreak of the conflict in Ukraine, has fulfilled its purpose.

According to Eurostat data, Spain is the country where the price of electricity has decreased significantly in the first half of 2023 compared to last year. Specifically, the reduction has been 41%, almost three times more than the second country, Denmark (-16%) and five times more than Portugal (-6%).

The data from Spain contrasts particularly with other EU countries where price increases are out of control. In the Netherlands, for example, the increase was 953%, and in Lithuania and Romania 88% and 77% respectively.

The ‘Iberian exception’ has been used as a banner by the coalition government in recent months and used as an example to deal with high inflation. A resource that PP, through its social networks, defined at the time as an “Iberian scam” when it understood that it was paying for electricity in other countries. On August 22 last year, the general coordinator of the PP, Elías Bendodo, said that “the star step of the Government” is the “subsidization of electricity in France.”

The acting Minister of Finance and ‘number two’ of the PSOE, María Jesús Montero, today called the leader of the PP, Alberto Núñez Feijóo, an “Iberian scam” after confirming that Spain is the country in the European Union where the domestic electricity prices. “Feijóo and the PP is a real Iberian scam,” he wrote on the social network X, formerly known as Twitter.

World Nation News Desk
World Nation News Desk
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