Teresa Ribera, Spain's minister for ecological transition. | Europa Press

Spain's minister for ecological transition, Teresa Ribera, has indicated that measures will be adopted that will allow Spain and Portugal to lower energy prices in three to four weeks time.

European leaders have agreed to a so-called Iberian exception, whereby, and in essence, the price of gas will be separate from the electricity price mechanism. The minister says that agreement to adopt measures to lower energy prices in Spain was "essential". The European Council has enabled this in order to ensure that European rules are "not broken".

As to the rise in gas prices and to supplies of gas, Ribera explains that "sooner or later" the EU may well have to close off Russian gas. It is therefore necessary to look for other suppliers - Algeria, Norway, Qatar or even Australia. She admits that replacing a large producer in a short time is far from simple, adding that "we must be intelligent in the consumption of energy resources".