LOCATION/TYPE

NEWS HOME

[ exact phrase in "" • results by date ]

[ Google-powered • results by relevance ]


Archive
RSS

Add NWW headlines to your site (click here)

Get weekly updates

WHAT TO DO
when your community is targeted

RSS

RSS feeds and more

Keep Wind Watch online and independent!

Donate via Paypal

Donate via Stripe

Selected Documents

All Documents

Research Links

Alerts

Press Releases

FAQs

Campaign Material

Photos & Graphics

Videos

Allied Groups

Wind Watch is a registered educational charity, founded in 2005.

News Watch Home

Spain passes retroactive subsidy cut law 

Credit:  10 June 2014 by Michael McGovern, windpowermonthly.com ~~

Spain’s right-wing People Party government has finally passed the decree ratifying deep retroactive cuts to renewables power, amid fears it will lead wind operators to default on loans.

The decree sets specific rules to meet the electricity law of July 2013, which ended all renewables production incentives even for existing capacity. It was drafted in February and has been universally attacked by the Spanish wind sector.

Instead, top-up subsidies for existing capacity are based on a “reasonable profit” concept, set at 7.5% across useful plant life. This compares with double-digit profits previously attained.

Accordingly, capacity online before 2005 – 8.4GW, or 37% of the cumulative total – is stripped of all subsidies, breaking the Spanish state’s promise to maintain incentives for 20 years.

That capacity will now receive the going market price only, as will all new capacity.

The decree, published this morning without negotiating with the sector, is “unfair” and “incomprehensible”, said Luis Polo, director general of national wind association AEE.

Since the July law, and until the decree, operators carried on receiving the incentives that existed before before July 2013. Application of the new rules is now backdated to that month and operators must pay back the excess.

Source:  10 June 2014 by Michael McGovern, windpowermonthly.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial educational effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

Wind Watch relies entirely
on User Funding
   Donate via Paypal
(via Paypal)
Donate via Stripe
(via Stripe)

Share:

e-mail X FB LI TG TG Share


News Watch Home

Get the Facts
CONTACT DONATE PRIVACY ABOUT SEARCH
© National Wind Watch, Inc.
Use of copyrighted material adheres to Fair Use.
"Wind Watch" is a registered trademark.

 Follow:

Wind Watch on X Wind Watch on Facebook

Wind Watch on Linked In Wind Watch on Mastodon