Iberian electricity prices remain stable despite fuel crisis
Electricity prices in the Iberian market are expected to remain stable due to the integration of renewable energy sources, particularly hydroelectric power. Pedro Amaral Jorge, president of the Iberian Electricity Market (Mercado Ibérico de Eletricidade or MIBEL), stated that the focus is on increasing price predictability for consumers. He also argued against taxing extraordinary corporate profits.
MIBEL (Mercado Ibérico de Eletricidade) is the integrated electricity market shared by Portugal and Spain. It allows for the cross-border trading of electricity, aiming to increase competition and price stability for consumers in both countries.