Spain law aims to save 4.6 billion euros in power costs | Reuters: "Spain said on Thursday it would slash subsidies for its photovoltaic solar power industry, netting savings of around 2.2 billion euros ($3 billion) over three years, part of a law aimed at limiting the cost of power.
The law, which is targeting savings of 4.6 billion euros over three years, will also charge utilities an operating toll and temporarily reduce wind power subsidies.
European governments have poured billions of euros in recent years into renewable energy by requiring utilities to pay a premium for solar electricity in order to cut their greenhouse gas emissions and dependence on imported fossil fuels."
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