Ribera seeks how to 'shield' the contracts of the electrical with the industry to avoid parons in production

The Ministry of Ecological Transition studies formulas to alleviate the chaos that has produced the hax on the income of large electricity in the contracts at a

Ribera seeks how to 'shield' the contracts of the electrical with the industry to avoid parons in production

The Ministry of Ecological Transition studies formulas to alleviate the chaos that has produced the hax on the income of large electricity in the contracts at a fixed price that they have signed with the country's industrial companies. Vice-Chairperson Teresa Ribera met yesterday with a wide number of representatives from the secondary sector of the economy to listen to her concern after Iberdrola, Endesa and Naturgy have moved his intention to impact the cut of his income on the price of contracts . The industry warned that, if the coup is consolidated, many companies will be forced to reduce their activity and stop production in the last line of the year and in 2022 with the consequent effect on the recovery of the economy, according to the world attendants to the meeting.

The vice president took note of the message and moved that his apartment is looking for solutions to avoid that impact. Everything happens to exclude from the blow to the fixed bilateral contracts that are already signed and are not indexed at the price of the market. The difficulty lies in how to do it, as it is private agreements signed between two companies.

"It is important that the contracts signed and the only way to avoid the current fuck is to exclude from the effect of the minus to those signed prior to adjustment"; Explain one of those attending the meeting that asks to maintain anonymity.

The meeting also served to review the initiatives that the Government is moving to Europe to try to contain the increase in the cost of energy at the continental level. The Vice President of Economic Affairs, Nadia Calviño, insisted yesterday during the participation of her in the Eurogroup in the "urgency" of looking for a continental solution to the problem.

The industry is not only concerned about the imminent impact that can have the repercussion of the regulatory cut on its current invoice, but by reviewing the cost of energy to which they will have to face when it is going and adjusting to the current references of the market. "Prices that mark futures for next year and 2023 are unsustainable"; He points out another industrialist who participated in the telematic encounter.

Ribera added that all European governments have been surprised by the rapid increase in energy and the alarming situation in which it has led to households and companies. Some members of the Association of Companies with great energy consumption (AEGE) or the Alliance for the competitiveness of the industry asked the Vice President to press in Europe to change the current marginalist market system, in which a high price of gas It ends up conditioning the cost of the rest of energy sources.

On the other hand, the regulatory cut approved by the government begins to have pernicious effects on the wholesale electricity market. Groups like IBERDROLA have begun to exclude from the price cassation part of its wind and photovoltaic production when it considers that the price of electricity is below the minus approved by the Government on its income.

This situation occurred both on Saturday and Sunday for a total of 16 hours, when part of renewable production went to zero when the schedule of light fell below 115 euros per megawatt hour. Sources from the group explain that the only thing they have done has been internalizing the new variable cost, linked to the price of gas, and avoid selling to losses. The absence of renewables, although there was wind and sun to produce, implied its substitution in the market for a higher import of electricity from France.

Updated Date: 05 October 2021, 08:16

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