Iberian exception
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European wholesale energy prices rose to unparalleled levels in 2022 as a result of the global energy crisis.[1] The Spanish and Portuguese governments introduced measures to separate power prices from the prices of European markets, beginning 15 June 2022, to keep prices low for consumers.[1][2] It functioned by an upper limit on the price charged by gas producers, and compensated for their losses when international gas prices went above the limit.[2] It was funded by additional payments from Iberian consumers.[2]