Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Spain Studies Cutting Aid to Large Power Users, Expansion Says

July 29 (Bloomberg) -- Spain’s government is studying whether it can force industrial consumers of electricity to give up some of the 2.5 billion euros ($3.3 billion) of state aid they receive annually, Expansion newspaper reported.

The companies targeted are those that earn money by generating power using excess heat from their industrial processes and at the same time get paid a stipend for agreeing to suspend electricity consumption when supplies are tight, Expansion said, without citing a source for the information.

Power users such as factories and smelters earn about 700 million euros a year for agreeing to such “interruptibility” although the emergency measure hasn’t been used in more than a decade, according to the news report.

Link to Company News:{ABG SM <Equity> CN <GO>} Link to Company News:{AIRI US <Equity> CN <GO>} Link to Company News:{CMI US <Equity> CN <GO>} Link to Company News:{DMM SM <Equity> CN <GO>} Link to Company News:{DRC US <Equity> CN <GO>} Link to Company News:{ENEL IM <Equity> CN <GO>} Link to Company News:{GAS SM <Equity> CN <GO>} Link to Company News:{IBE SM <Equity> CN <GO>} Link to Company News:{REP SM <Equity> CN <GO>} Link to Company News:{TRE SM <Equity> CN <GO>} Link to Company News:{VIE FP <Equity> CN <GO>}

To contact the editor responsible for this story: Todd White at twhite2@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.