Spain: Regulator to probe “high” energy prices

Spain’s National Commission of Markets and Competition (CNMC) expressed its concern on Monday regarding the current prices of electric power in the country, considering them to be “high… despite being a temporary situation.” For this reason, the agency will conduct a behavioral analysis “to ensure that the market is working correctly.”

The Secretary of State for Energy, José Domínguez Abascal, celebrated the action announced by the CNMC, providing assurances that his ministry will support this task “as far as necessary.”

“There has indeed been a significant alteration of prices in recent months and we must have a clear explanation of why this is happening,” said Dominguez Abascal. The price of electricity in the Spanish market closed in June with an average price of €58.6 / MWh (US$68.35 / MWh), an increase of 16.41% over the previous year.

Full Content: Europa Press

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