EU court upholds national green energy subsidies
Associated Press |BRUSSELS (AP) — The European Union's top court is confirming countries have the right to limit subsidies for renewable energy to plants based on their territory, as opposed to companies' operations abroad.
Subscribe to get our Daily Fix delivered to you inbox 5 days a week
Tuesday's ruling by the Court of Justice found countries may also restrict electricity imports to promote wind, solar or biomass energy because it "is justified by the public interest objective of promoting the use of renewable energy sources in order to protect the environment and combat climate change."
The verdict upholds current practices. A different outcome could have caused major challenges for countries like Germany, which spends billions on subsidies limited to its national borders.
The Luxembourg-based court ruled on a lawsuit by Alands Vindkraft, a Swedish company that sought to benefit from Swedish subsidies for power generated in Finland.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not necessarily represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer.
Watchlist
Symbol | Last Price | Change | % Change |
---|---|---|---|
AAPL | |||
AMZN | |||
HD | |||
JPM | |||
IBM | |||
BA | |||
WMT | |||
DIS | |||
GOOG | |||
XOM | |||
BRK.A | |||
FB | |||
JNJ | |||
WFC | |||
T | |||
NFLX | |||
TSLA | |||
V | |||
UNH | |||
PG |
Comments
You have to be logged in to leave a comment.
Take me to log in Don't have an account?