Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Spainís Supreme Court backs renewable energy cuts

Source: El Pais - Thu 2th Jun 2016
Spainís Supreme Court backs renewable energy cuts

The Spanish Supreme Court has dealt a new blow to renewable energy producers.

In a ruling, the court backed the 2014 government decree that resulted in cuts of nearly Ä1.7 billion in subsidies for the sector.

The court finds that the decree, passed by Mariano Rajoy of the Popular Party (PP), does not violate the Spanish Constitution or EU legislation, as the plaintiffs claimed.

The decision, which confirms an earlier ruling by the Constitutional Court, is a setback for the three producers who fought the legal battle against the Spanish government: IngenierŪa Civil, Alternativa y Medioambiental (Incam), Renovables Samca and Llerena Solar, Temcli y Powersol 2007.

But hundreds more similar appeals have reached the Supreme Court, which is expected to rule along the same lines in the coming months.

The one piece of good news for producers is that the new premiums are not retroactive, so that past subsidies do not have to be returned.

Waiting for ICSID

Despite the favorable rulings for the Spanish government, the legal battle over the cuts to renewable subsidies is not over.

Dozens of companies and investment funds have turned to the International Centre for Settlement of Investment Disputes (ICSID), a World Bank-sponsored arbitration agency, with claims against Spain. Those decisions are still pending.

But in January, another claim at the Arbitration Court of the Stockholm Chamber of Commerce ended in Spainís favor.

Recommended Reading :

* Spain removes punitive 'Sun Tax'

* Spain may yet change solar policy

Comment on this Story

 
Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs

 
When shopping for bodyjewelrytips, never buy anything that has nickel. The best type of material is the steel, titanium, wood, anodized gold or gold. Most nickel products will rust and may infect your ear. If you have pierced the naval or eye, you do not need to worry, as that is the most versatile part of the body. You can wear rings, straight, curved or fancy and captive beads. There are many leading body piercing jewelry that offer some of the biggest collection at very affordable price. In regard to shopping, always go to a wholesale shape as that is the sure place of getting any type of body piercing jewelry. The only thing that you need to be careful about is the material used to make the jewelry. There are instances when body piercing might go wrong and the result is an infection. In order to avoid this, make sure that the person doing the piercing is qualified to do so. After piercing is done Bodys piercing trends, you should keep the area sterilized and clean. Use warm water to wipe dirt. Never use spirits as they will corrode the area resulting to a wound which might cause an infection.