目前,西班牙作为欧洲最稳定、经济增长最迅猛的国家之一,物价恢复,失业率逐步下降,经济复苏强劲。
Currently, Spain has been steadily improving its overall economic performance in addition to greater price stability and gradual decline in unemployment, becoming one of the most stable and fastest growing countries in the Eurozone.
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By Gonzalo Olivera and Alberto Artés King & Wood Mallesons’ Madrid group.

Market framework

1.Who are the principal government participants in the electricity sector? What roles do they perform in relation to renewable energy?

At state level, the Ministry of Energy, Tourism and Digital Agenda (MINETAD) is in charge of proposing and executing government policies in relation to energy.
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By Fernando Badenes, King & Wood Mallesons’ Madrid Office

The last step of the reform of the electricity sector carried out by the Spanish Government has been the final straw. That step was the enactment of a Ministerial Order that has set the parameters of remuneration for different renewable energy technologies. This regulatory change supposes the retrenchment of the profitability that the Spanish state had promised and stimulated and which had been the reason for fresh private equity funds in the sector. This change of regime was initiated some years ago by the Spanish Government with the aim of reducing the tariff deficit of the system and has triggered foreign alarms to investors who had invested in the renewal energy sector relying on the Government’s promises on keeping premium fees throughout the lifetime of the plants. These investors have now initiated arbitration proceedings under the protection of the Energy Charter Treaty (“ECT”) to claim from the Spanish State fees lost as a result of this change of regulation.
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