In for long haul, page-23

my understanding is that Spain imports 1billion in petroleum products from Russia but none of its gas. It’s electricity is 50% renewables but the pricing has been based on the most marginal cost ie gas which is why electricity prices skyrocketed. The latter is amenable to alterations in pricing structure which I think have been addressed hence SFRs statement that electricity prices are coming down substantially. My own assessment is that skyrocketting oil prices in the event of a total oil embargo would increase costs but SFR would still remain profitable.