EU clears Spanish plan for green cars
BRUSSELS, BELGIUM - A plan by Spain to grant interest rate subsidies for green cars has won approval from the European Commission, the European Union executive said.
"This (measure) will allow important investments for the future low carbon economy which could have been put on hold due to the financial and economic crisis," Competition Commissioner Neelie Kroes said in a statement.
Under the temporary scheme, Spanish authorities may provide subsidized loans until the end of 2009 with a maximum term of two years to the car and car component industry for investments in products that meet EU environmental product standards.
Last month, the Spanish government approved a 4 billion euro ($5.3 billion) package to support its auto industry after layoffs and stoppages at plants. The Commission had already said this scheme and another car aid plan from Italy did not breach EU state aid or internal-market rules.
Related News
Consumer choice has suddenly revolutionized the electricity business in California. But utilities are striking back
LOS ANGELES - Nearly 2 million electricity customers in California may not know it, but they’re part of a revolution. That many residents and businesses are getting their power not from traditional utilities, but via new government-affiliated entities known as community choice aggregators. The CCAs promise to deliver electricity more from renewable sources, such as solar and wind, and for a lower price than the big utilities charge.
The customers may not be fully aware they’re served by a CCA because they’re still billed by their local utility. But with more than 1.8 million accounts now served by the new…
