EU clears Spanish plan for green cars
"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
PG&E Rates Set to Stabilize in 2025
CALIFORNIA - Pacific Gas and Electric (PG&E) is expected to implement a series of rate hikes that will significantly impact California residents. These increases, while substantial, are anticipated to be followed by a period of stabilization in 2025, offering a sense of relief to customers facing rising costs.
PG&E, one of the largest utility providers in the state, announced that its 2024 rate hikes are part of efforts to address increasing operational costs, including those related to wildfire safety, infrastructure upgrades, and regulatory requirements. As California continues to face climate-related challenges like wildfires, utilities like PG&E are being forced to…
