Spanish Congress Approves Gas Price Cap to Lower Electricity Bills
The Spanish Congress has validated a decree-law to limit wholesale gas prices, aimed at reducing electricity costs for consumers by 15% to 20%. Supported by most political parties except the PP and Vox, the measure has been described by Vice President Teresa Ribera as a crucial ‘firewall’ against rising energy prices. The Commission Europea has also endorsed the plan, which will take effect on Tuesday. While the opposition criticizes the intervention as a sign of failure in energy policy, government leaders emphasize its importance in protecting consumers and businesses amidst the ongoing energy crisis.