Spain and France reaffirm their firm commitment to energy cooperation

In the framework of the 27th Spanish-French Summit, held today in Barcelona, Spain and France have reaffirmed their firm commitment to cooperation in energy matters, with special attention to the ongoing reform of the EU's electricity market and the promotion of interconnections between the two countries to increase resilience and security of supply. Both countries will work on their proposals for the reform of the European electricity market to converge on a common position, with the aim of approving the new model by 2023. They will also study the construction of a new power line between the two countries, taking advantage of the underwater route of the H2med hydro-duct between Barcelona and Marseille.

"Spain and France want to move forward together in the field of energy and to this end improve the European project, increase our integration and build a more united, stronger and more sustainable Europe that is better prepared to face the challenges ahead and achieve a carbon-neutral economy", said the Third Vice-President of the Government of Spain and Minister for Ecological Transition and the Demographic Challenge, Teresa Ribera, in relation to the Summit.

France and Spain have agreed on the need to speed up the procedures for the trans-Pyrenean electricity interconnection projects, including the planned submarine cable across the Bay of Biscay and the H2med project to supply green hydrogen to the rest of the European continent, in the conviction that these infrastructures will increase the security of supply of the 27 and facilitate the achievement of the EU's decarbonisation objectives.

In addition, the two countries will study the possibility of a new electricity interconnection that takes advantage of the H2med infrastructure in the section that will link Barcelona with Marseille.

Working together on energy reform

Spain and France have pledged to work together on the energy reform package that the EU must undertake, particularly during the Spanish Presidency of the EU Council in the second half of the year, with the aim of having it approved before 2024. Both countries share the same diagnosis of the economic and structural problems of the current market design, and agree on many of the solutions needed to facilitate the decarbonisation of the energy system and to provide security for investors and stability and affordable prices for consumers.

Consequently, Spain and France, with shared objectives and very similar approaches in their proposals to reform the design of the European electricity market, will work together to reach a successful agreement. They are also committed to finding solutions that favour the hydrogen economy.

Last, Spain and France have agreed to reinforce the bilateral work of their technical teams on energy matters, establishing regular meetings to facilitate the adoption of common positions at the European level.

Non official translation