Spain, Portugal sign energy deal

20 January 2004

LISBON – Spanish Prime Minister José Mariá Aznar travelled to neighboring Portugal Tuesday to witness the signing of an agreement designed to create a unified electrical energy market to benefit consumers in the Iberian peninsula.

Spanish Economy Minister Rodrigo Rato and his Portuguese counterpart, Carlos Tavares, signed the Iberian Electricity Market (MIBEL) agreement in Lisbon, Portuguese authorities said.

According to Spanish and Portuguese energy officials, the accord will go into effect on 20 April and allow the 50 million consumers in the two countries to chose their own electricity supplier.

It will be the first such accord between two European Union partners, the officials said.

In an interview published Tuesday by a Portuguese financial daily, Tavares said the agreement would mean that energy prices in Portugal would fall and be closer to the lower prices enjoyed by customers in Spain.

“All electricity consumers will be able to buy energy at more competitive rates and there will be a resulting improvement in the quality of the service,” the minister added.

Diplomats said during his brief stay in Lisbon, Aznar would meet with Portuguese Prime Minister José Manuel Durao Barroso for talks.

These would probably focus on the proposed, but troubled, European Union constitution and other issues.

[Copyright EFE with Expatica]

Subject: Spanish news