Energy subsidies refer to financial assistance provided by governments to support the production, consumption, or use of energy. These subsidies can take various forms, such as direct payments, tax breaks, or favorable pricing for energy resources, aimed at promoting specific energy sources, reducing costs for consumers, or encouraging energy production. They are often intended to make energy more affordable, promote domestic energy production, support renewable energy projects, or stabilize markets in times of crisis. Energy subsidies can have significant economic, environmental, and social impacts, shaping energy markets, influencing consumption patterns, and affecting climate change efforts, depending on whether they favor fossil fuels or renewable energy sources.
Spain has encountered another setback in international disputes pertaining to cuts in premiums for renewable energy sources. This time, the ‘ad hoc’ committee within the International Centre for Settlement of…