The EU Commission approves €8.4B Spanish and Portuguese measures to lower electricity prices amid energy crisis

State aid: Commission approves Spanish and Portuguese measure to lower electricity prices amid energy crisis* The European Commission has approved, under EU State aid rules, a €8.4 billion Spanish and Portuguese measure aimed at reducing the wholesale electricity prices in the Iberian market (MIBEL) by lowering the input costs of fossil fuel-fired power stations. The measure was approved under Article 107(3)(b) of the Treaty on the Functioning of the European Union (‘TFEU'), recognising that the Spanish and Portuguese economies are experiencing a serious disturbance. The measure is in line with the Commission's Communication on security of supply and affordable energy prices and the European Council conclusions, both from March 2022, referring to emergency temporary measures reducing

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European Commission, The EU Commission approves €8.4B Spanish and Portuguese measures to lower electricity prices amid energy crisis, 8 June 2022, e-Competitions June 2022 - II, Art. N° 106991

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