Pulling the plug on renewable power in Spain
Spain has earned a reputation for leadership in the development of renewables, especially wind and solar powered electricity. But draft legislation introduced last July is the latest in a series of regulatory reforms since 2010 that reduce revenues to existing renewable power generators and that end the previous system of support to new renewable generation. In this comment, David Robinson explains the background to the reform, which aims to stop the tariff deficit, which has reached €30 billion, from growing further…