The Spanish government has now removed its original July 1 deadline to reduce renewable energy subsidies and is now negotiating a pact with the opposition to give more stability to an alternative energy plan, reports Reuters.
Industry Minister Miguel Sebastian said that the multi-party energy pact is aimed at increasing Spain’s weak energy interconnection with its neighbours, manage its nuclear waste and diversify its energy mix. The government does have the option of bypassing parliament and changing the subsidies by decree, yet it has decided to seek consensus on the revision with the Popular Party.
“We are going to make a deep revision. First we will look at the costs then income,” said Sebastian.