EU Extends Natural Gas Price Cap For Spain And Portugal ...Middle East

The European Union has agreed to extend a cap on natural gas prices for power generation in Spain and Portugal until the end of the year.  Spanish Energy Minister Teresa Ribera explained that the decision will protect Spanish and Portuguese consumers. While the decision is still pending endorsement by the Commission, it has expressed explicit support for the move. According to an Energy Ministry spokesperson, "The agreement enables the extension of this temporary mechanism that will cap the gas price at an average of 55 euros ($59.48)…

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