Ribera believes that the drop in electricity due to the gas cap will range between 15% and 20%

Despite acknowledging "certain uncertainty" when calculating the exact price reduction

SANTA CRUZ DE TENERIFE, 23 May. (EUROPE PRESS) -

The Minister for the Ecological Transition and the Demographic Challenge, Teresa Ribera, admitted this Monday that there is some "uncertainty" in calculating the exact reduction in the price of electricity once the cap on gas to generate electricity comes into force, but maintains that the forecast of the Executive is that it will fluctuate between 15% and 20%.

Speaking to journalists after attending the start of the dismantling of the Cepsa Refinery in Tenerife, he commented that the final percentage depends on how the price of gas evolves and how many hours of the day the gas sets the final price, so "being prudent ", sets the discount between 15% and 20%.

He has said, however, that "the most important thing" is to achieve the price reduction that has occurred in recent months and the trend that gives security to the supply in the face of the gas cut that has occurred from Russia to Finland, for example.

Ribera has valued the "support" of the European Commission and the Union as a whole for the 'Iberian exception', because it gives "slack" to reach different price references in a market in which "it is very difficult" to modify the rates or promote contracting in the medium and long term, when 40% of domestic customers and 70% of industry are "indexed" to the wholesale market.

Thus, he has pointed out that "there is no great liquidity" due to the physical restriction that Spain and Portugal have and that Europe "recognizes", but has insisted that it was "important" to release electricity at "more reasonable prices", both for households as for the industry.

Regarding the 20-cent subsidy for fuel, he commented that the entire economic team of the Government works following the evolution and taking into account that the idea of ​​giving "agile and immediate coverage" must be "reconciled" with "greater precision" which groups are the most in need of such a measure.

Along these lines, he pointed out that the measures were taken for a period of three months and at the end of June the decision will be made as to whether it is maintained or modulated with complementary ones.