Spain cuts soaring energy bills with emergency measures

Executive expects to redirect €2.6bn from corporations to shoppers in subsequent six months, with reasonable per 30 days invoice falling by way of 22%

Spain’s executive has handed emergency measures to scale back sky-high power expenses by way of redirecting billions of euros in strange earnings from power firms to shoppers and capping will increase in fuel costs.

Within the first such extensive reaction in Europe, the place wholesale costs have doubled in a yr, Spain plans to restrict the earnings that power firms the use of hydropower and different renewable energy turbines could make from surging electrical energy costs.

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