Spain to propose to EU a cap on carbon emission permit prices, PM says

Spain will send a proposal to the European Union on limiting carbon emission permit prices in a bid to curb energy price increases and their effects on inflation, Prime Minister Pedro Sanchez told a news conference on Friday.

Spain will propose "a new intervention on the energy market with a price cap to the CO2 emission price," Sanchez said, adding his government will also send the EU a proposal to "reform the electricity market", he said.

"These are measures that are going to help bend the inflation curve and benefit Spain and Europe," Sanchez said.