Ribera criticizes the Brussels gas cap proposal: "It's a joke"

The third vice president and minister for the Ecological Transition,

, has criticized in the Congress of Deputies the proposal made by the European Commission to put a cap on the price of gas.

As she declared,

.

At the moment, she does not believe that there will be an agreement, since the announced mechanism is "practically unfeasible."

Ribera also showed his "outrage" at the community movement, reports

.

What's more, he assured that he knows that there are other countries that would position themselves along the same lines and that "

."

"I have the impression that he is going to hear very harsh things from the majority of ministers," he advanced.

The idea of ​​Brussels is that this mechanism regulates, in a certain way, the market temporarily until a new reference index is approved, since it is considered that the TTF has not been valid for a long time.

Thus, the new tool would act automatically, but for this there must be an assumption that has hardly taken place in the moments of greatest tension in the gas market with the war in Ukraine.

This cap on gas sets a maximum security price of 275 euros in TTF derivatives one month in advance.

The mechanism would be activated when this price is exceeded for two consecutive weeks and if the price of pure TTF exceeds the reference price of liquefied natural gas by 58 euros -which does not arrive by pipeline, but by ship- for 10 consecutive business days within the two weeks.

In other words, it would only have been activated for a few days during the gas crisis.

The Commission explained that the prices have been set to avoid detrimental effects and to avoid interruptions in supply that would put stocks at risk.

Although this winter is no longer feared, with almost all storage well above 90% of its capacity, it is now necessary to think about guaranteeing the supply in 2023. For Ribera, in any case, the measure "

" and would lead to an increase in prices.

It is not the first time that Ribera, Spain and its measures collide with the Commission and its proposals.

Already when they presented their first contingency plan, the minister, who rejected it, accused Europe of "profound inaction" and made harsh statements in which she called for a "serious and honest" debate.

Unlike other countries, we Spaniards have not lived beyond our means from an energy point of view," the third vice president added.

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• Gas

• Energy crisis

• Teresa Ribera