How many of you are prepared to do this? Speak up to your legislators or forever hold your tongue when the rates rise!
So what’s changing now? Spain’s debt has hit a record-breaking €882 billion. About €26 billion of that is what Spain owes power companies for a decade-long subsidization for selling electricity at less than cost to its customers, as well as the country’s ample investment in going green, which, according to The Economist, increased 18-fold in the last five years.
Earlier this summer, the Spanish Ministry of Industry laid out its plan to cut off its subsidizing of green energy, equating to about a €2.7-billion charge to utility companies and wind and solar farmers, passing on a roughly 40-percent hike to energy consumers.