Incorrect. The regulation only applies when roaming.
To take three UK for example:
Calling Spain from the UK: 46p/min
Calling Spain from France while roaming: inclusive in minutes allowance, otherwise 3p/min.
I also checked Vodafone.de and it's the same thing - nearly €1/min if you're in Germany, or inclusive if you're roaming.It's a bit of a joke really. I don't know why the EU didn't think of this.