Recent amendments and reforms to the energy sector: Law 15/2012 and Royal Decree Law 29/2012

Over the past months, the Spanish Energy Sector has suffered the consequences of the Government’s attempts to reduce the so called tariff deficit and to reestablish the balance between the costs and revenue within the Electricity Sector.
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These attempts have been partially materialized in the following reforms which were finally approved at the end of year 2012: Law 15/2012, of December 27, on tax measures for energy sustainability («Law 15/2012»), introducing new taxes applicable to energy producers and other entities involved in the energy sector, and Royal Decree Law 29/2012, of December 28 («RDL 29/2012»), which amends certain parts of the Spanish Electricity Sector Law, particularly those related to how the tariff deficit will be financed.
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This report is aimed at providing a brief description of the main amendments contained in such laws and regulations, and is particularly focused on taxes and amendments that will affect renewable energy facilities.