Spain to extend electricity subsidy

Portugal and Spain want to apply to the EU Commission for an extension of the so-called Iberian Model for subsidized electricity prices. The Spanish Ministry for the Ecological Transition announced yesterday that the subsidy scheme is to remain in force until the reform of the European electricity market has been implemented. The government in Madrid also sent its reform proposal for the electricity market design to the EU Commission. Spain will hold the EU Council presidency in the second half of the year.