Cheaper electricity plan back on cards

23rd August 2004, Comments 0 comments

23 August 2004, MADRID - A plan to provide cheaper electricity services for the Iberian Peninsula looked back on track Monday after the Spanish and Portuguese governments announced talks about a common electricity market.

23 August 2004

MADRID - A plan to provide cheaper electricity services for the Iberian Peninsula looked back on track Monday after the Spanish and Portuguese governments announced talks about a common electricity market. 

A meeting of Spanish and Portuguese ministers next month is expected to tackle the plan for a common electricity market that stalled in April after Spanish elections put a new government in power, a government spokesman said.

Spanish Industry Minister Jose Montilla will meet Portuguese Finance Minister Alvaro Barreto in the second half of September and the two ministers will discuss the agreed Iberian electricity market, dubbed Mibel, a spokesman for the industry minister said.

The date has not been scheduled but the meeting likely will take place in Lisbon, he said.

However, the spokesman declined to comment on a report published Monday in the Spanish daily El Pais which said that Montilla and Barreto would fix "more realistic delays" in the launch of Mibel.

Spain and Portugal signed an agreement in January to create an integrated Iberian electricity market of 53 million consumers.

It is aimed at improving service and lowering prices through greater competition, ahead of the liberalisation of the European Union energy sector in 2007.

But the launch date in April was officially postponed after Spanish elections put a Socialist government in power. No new launch date has been announced.

In April, Montilla had said the market would be launched as soon as possible, and by year-end at the latest.

A senior Spanish electricity market official, speaking on condition of anonymity to El Pais, said the agreement "must be renegotiated in its entirety".

[Copyright EFE with Expatica]

Subject: Spanish news

0 Comments To This Article