January 16, 2013 / 2:09 PM / 5 years ago

Spain's energy reform will not cut solar subsidies

MADRID (Reuters) - Spain will not cut subsidies for solar energy as part of its overhaul of the country’s energy sector, Industry Minister Jose Manuel Soria said on Wednesday.

“The government has not considered it,” he said, when asked whether Spain would reduce solar energy incentives as part of its plan to control an energy tariff deficit of over 24 billion euros.

At the end of 2012, the Spanish government removed a legal cap meant to limit the amount it will owe utilities in 2012 and 2013 for selling power at a loss.

By November of last year, the so-called tariff deficit had grown by 4 billion euros, more than double the amount targeted in 2012 and adding to the cumulative total of 24 billion reached in 2011.

Reporting by Andres Gonzalez; Writing by Clare Kane; Editing by Tracy Rucinski and David Holmes

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