Spain cuts soaring energy bills with emergency measures

Government expects to redirect €2.6bn from firms to consumers in next six months, with average monthly bill falling by 22%

Spain’s government has passed emergency measures to reduce sky-high energy bills by redirecting billions of euros in extraordinary profits from energy companies to consumers and capping increases in gas prices.

, Spain cuts soaring energy bills with emergency measures, The Nzuchi Times Guardian

In the first such broad response in Europe, where wholesale prices have doubled in a year, Spain plans to limit the profits that energy companies using hydropower and other renewable power generators can make from surging electricity prices.

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