Government to request temporary departure from European energy market

The Government has issued a request to temporarily leave the EU’s internal energy market to enable it to adjust the power price mechanism after energy costs soared.

In a position paper published this week, the coalition is to formally request a temporary de-linking of final energy prices which are connected to gas prices, whilst offsetting high costs with lower cost renewable sources.

The decision comes after nine member states rejected a proposal from prime minister Pedro Sanchez last week to modify the continent wide wholesale power market.

Countries opposed to the changes cited Portugal, which has lower energy costs than Spain at present.



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